Prime location in the heart of Belgrade
The sold property includes a total of 3,324 m² of office space, distributed across seven floors with additional areas on the ninth floor of the Palata “Albanija” building. The initial asking price was set at €10 million, translating to approximately €3,000 per square meter, placing it among the most significant transactions in Belgrade’s downtown commercial market.
According to the terms of the sale, participants were required to provide a €1.5 million deposit, indicating that interest came from serious investors and companies that recognize the long-term value of premium locations.
Palata “Albanija” – A symbol of Belgrade and a modernist landmark
Completed in 1939, Palata “Albanija” was Belgrade’s first skyscraper, rising 53 meters high, and at the time represented one of the most advanced architectural achievements in the region. The building has been designated a cultural monument since 1984, meaning that any sale, renovation, or modification must comply with the regulations of the Institute for the Protection of Cultural Monuments.
This special status gives the property a unique charm, while also requiring additional attention when it comes to future adaptations or changes in use.
Office market trends in central Belgrade
Prices for office space in Belgrade’s city center remain among the highest in the country. Depending on location, building quality, and equipment level, prices typically range from €1,200 to €4,000 per square meter, while monthly rental rates for central business spaces usually fall between €16 and €21 per square meter.
These figures confirm that prime downtown locations continue to attract investors seeking stable long-term value and a prestigious business address.
Impact on the market and potential for urban revitalization
The sale of office space in Palata “Albanija” could serve as a reference point for assessing the value of similar commercial properties in Belgrade’s core. Should the new owner choose to modernize or lease out the premises, this could raise the overall standard of office supply and attract more business activity around Republic Square and Terazije.
At the same time, transactions of this kind contribute to the revitalization of Belgrade’s historic center, supporting investment, infrastructure improvement, and the return of high-value business operations to traditional urban zones.
Significance for the office space market
This transaction demonstrates that, despite the rapid development of modern business complexes in New Belgrade and the Sava Waterfront area, interest in historic and prestigious downtown buildings remains strong. Palata “Albanija” embodies the balance between tradition and potential, symbolizing the long-term values recognized by the market — prestige, location, and heritage.
The sale of office space in Palata “Albanija” highlights that Belgrade’s city center continues to be viewed as a prestigious and desirable business destination. It also underscores the importance of preserving architectural heritage while adapting historic buildings to modern professional needs. In a time when attention increasingly shifts to new business zones, Palata “Albanija” remains a powerful symbol of continuity and Belgrade’s enduring identity.
