Belgrade Research Forum Established
Belgrade Research Forum established - CBS International, Colliers and Jones Lang LaSalle join forces to analyze real estate market
Belgrade, February 2013 - Following the data exchange platforms already existing in Warsaw, Prague, Bucharest, Budapest, Prague and Zagreb, three leading real estate companies in Serbia established Belgrade Research Forum at the end of 2012, with the aim to collect, analyze and publish the key real estate market data.
Market transparency and accurate key indicators are fundamental for making important real estate investment decisions. So far, the emerging Serbian market has not shown sufficient level of transparency, as the leading and eminent consultants gathered and reported the data individually, which resulted in consistency failure.
Three companies. CBS International, Colliers and Jones Lang LaSalle will henceforth jointly collect, analyze and report the main quarterly market indicators such as office take up, prime rents and prime yields. We are more than convinced that such market information, presented by renowned professionals, will help investors, developers, banks, investment funds, occupiers, valuers to accomplish their professional goals and achieve the best performance.
This initiative does not represent only a source of useful statistical information but an introduction of some new business approaches and best practices on the local market.
The establishment of Belgrade Research Forum was highly supported by the local management of the respective companies.
CBS International, part of the CBRE Affiliate Network, Dragan Radulovic, Managing Director: “We’re pleased to be a part of the Belgrade Research Forum and contribute to this key investment tool that mirrors the overall property climate. As an added value to the domestic and international players, we will be glad to share our know-how and continue to help all the real estate market participants shape their property decisions up to the market expectations.”
COLLIERS, Luke Dawson, Managing Director: “We are very excited to be a part of the Belgrade Research Forum. This is the next step in giving both local and foreign investors and occupiers the confidence and comfort in Belgrade being a top quality place to do business and invest. Together with our partners in the forum, we will continue to take the lead in the promotion of Belgrade as one of the fastest maturing and exciting real estate markets in the region.”
Jones Lang LaSalle, Andrew Peirson, MRICS, Managing Director: “The Belgrade Research Forum is long overdue and is evidence that the real estate market is maturing. It is essential that we have a clear picture of the supply and demand dynamics in the market so that everyone can grasp exactly what is happening in the marketplace. Feedback from investors is that they need to see more transparency, and this is what this Forum will provide.”
The first results of the Belgrade Research Forum and an announcement of the Office Market Figures for Q4 2012
We are pleased to announce the establishment of the Belgrade Research Forum, with the initiative of three global real estate companies based in Belgrade – CBS International, part of the CBRE Affiliate Network, Colliers International and Jones Lang La Salle.
We present you with Q4 2012 market indicators – office take up and prime office rents and yields – as successful result of teamwork of the researchers, with an aim to provide a consistent, accurate and transparent market overview.
The data will be published on quarterly basis with the possibility to introduce some other market indicators upon clients requirements.
In 2012 total gross take-up which includes office lease and owner-occupier transactions amounted to 65,505 m2. Owner-occupier deals recorded 20,370 m2, whilst the remainder of 45,135 m2 accounted for office lease transactions, renewals and expansions, with the average taken floor plate standing at 475 m2.
In Q4 2012, total gross take-up in Belgrade amounted to 9,884 m2 with no owner-occupier transactions recorded.
Rents and Yields
The prime headline rents as of Q4 2012 were between €14 and €16/m2/month and the prime office yield was considered to be in range between 9 and 9.5%