Belgrade has been chosen as the host city for the EXPO 2027, triumphing over competitors such as Malaga, Minnesota, Phuket, and Bariloche. This specialized exhibition, set to run from May 15 to August 15, 2027, will revolve around the theme “Play for Humanity: Sports and Music for All,” exploring the impact of play, sports, and music on human development. With approximately 120 countries, international organizations, and companies participating, the event is expected to draw over 4 million visitors from both domestic and international markets.
The EXPO 2027 is expected to greatly influence the real estate market in Belgrade, Serbia, and the surrounding region.
EXPO 2027 will be a transformative event for the office space and real estate market in Belgrade. This specialized exhibition is set to attract international investors and reshape the dynamics of the local real estate sector. As the host city for this prestigious event, Belgrade will encounter both significant opportunities and challenges. The global attention focused on the city is expected to bring a surge of investors, entrepreneurs, and tourists, leading to increased demand for residential and commercial properties. There will be a growing need for modern and functional office spaces, hotels, and restaurants. Investors are likely to be driven to develop new projects and upgrade existing properties to accommodate this rising demand. The International Monetary Fund (IMF) reports that there are currently 323 projects planned, with a total value of €17.803 billion.
To meet the demands of the exhibition’s visitors and participants, Belgrade will need to invest significantly in enhancing existing business spaces and constructing new ones. The development of modern offices, conference centers, and exhibition spaces will be a focal point for investors. Consequently, the availability of office spaces for rent will increase, providing companies with more opportunities to find ideal locations for their business activities.
With the surge in demand for business spaces and new project developments, property prices in Belgrade could experience substantial growth. This trend could be beneficial in two ways. EXPO 2027 will create new investment opportunities for property development and acquisition. Investors will have the chance to invest in projects with long-term benefits, while property owners will benefit from rising prices and rental incomes. According to the Real Estate Cadastre (RGZ), in the first quarter of 2024, 304 properties were purchased in Surčin, where a new city is being built for EXPO, representing a 32% increase compared to the same period last year.
A potential risk for residents in the vicinity of the EXPO 2027 area is the possibility of being forced to relocate if housing costs become prohibitively high. Therefore, the development and construction of affordable housing and commercial spaces must become a priority to balance market dynamics.
Investments in the real estate market will also contribute to the overall economic development of Belgrade and Serbia. Newly constructed and renovated properties will generate new jobs, increase employment rates, and improve the city’s infrastructure. New job opportunities will be created in hospitality, tourism, transportation, and retail sectors, potentially reducing unemployment rates and enhancing residents’ quality of life. It is estimated that Serbia will generate approximately €1 billion in revenue during EXPO 2027, with the largest revenue influx expected from hospitality, tourism, and hotel industries. These changes will have a long-term positive impact on the real estate market by establishing a stable foundation for future growth and development. The National Bank of Serbia (NBS) expects GDP growth to accelerate this year to a range of 3% to 4%, while the IMF forecasts a 3% increase in GDP. The NBS has also revised its GDP growth projections for 2025 and 2026 to a range of 4% to 5%, based on investments planned for EXPO 2027.
EXPO 2027 has the potential to bring significant benefits to Belgrade and Serbia. However, it is crucial to manage all aspects of the exhibition effectively. Thanks to this global event, Belgrade will position itself as the most attractive business destination in the region, with EXPO 2027 playing a key role in shaping the future of business space in this dynamic city.
Proper planning, transparency, and a long-term strategy are essential to maximizing positive outcomes and minimizing negative effects on the city and its residents. Without continued efforts to upgrade and support infrastructure and the economy after EXPO 2027, the anticipated benefits may not fully materialize. With careful attention and investment, Belgrade can successfully harness this potential and build a solid foundation for future growth and prosperity.