Sotheby's International Realty Opens First Office in Serbia
NEW YORK, May 18, 2022 /PRNewswire/ -- Sotheby's International Realty today announced the opening of KADENA Sotheby's International Realty in Serbia, signifying the brand's continued strength in Europe. The addition marks the brand's 10th affiliated office in Eastern Europe and its 205th affiliated office in the EMEIA region.
KADENA Sotheby's International Realty is owned and operated by Kadena Properties, one of the leading real estate developers in Serbia, and Hunter Milborne, owner of Montenegro Sotheby's International Realty and partner of KADENA Sotheby's International Realty. Managing Director, Nikola Nedeljkovic, will run the company's headquarters in the city of Belgrade, which will service the entire country.
"The luxury market in Serbia is seeing a steady increase in interest," said Philip White, president and CEO of Sotheby's International Realty. "This is primarily due to the nation's growing purchasing power, an influx of expats and Serbians who see the country as a great place to invest and reside, and the number of new developments emerging in the country, including the launch of St. Regis Residences Belgrade. I look forward to welcoming Nikola and the entire KADENA Sotheby's International Realty team to the network."
"Serbia is an excellent choice for buyers looking to purchase a property with solid investment potential," said Nedeljkovic. "As an EU candidate country, Serbia is becoming an attractive destination due to its history, nightlife, and affordability when compared to other countries in the region. Our affiliation enables us to tap into a growing luxury market and showcase our listings both domestically and internationally, with the credibility and strength of the Sotheby's International Realty brand behind us."
The office currently has several sales associates with plans for continued growth. The country's biggest real estate development, Belgrade Waterfront, which includes the St. Regis Residences, will be one of the firm's new development projects. The residences and development will be represented by the KADENA Sotheby's International Realty team.
The Sotheby's International Realty® network currently has more than 25,000 affiliated independent sales associates located in more than 1,000 offices in 78 countries and territories worldwide. KADENA Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.
Sotheby's International Realty
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans more than 1,000 offices located in 78 countries and territories worldwide, including 51 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Realogy entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744.
The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.
Melissa Couch | Senior Manager, Public Relations & Communications | Sotheby's International Realty
O: 973.407.6142 | E: melissa.couch@sothebys.realty