Published on 25 April 2006 at 03:15 pm
Filed in Property News for Serbia » Belgrade Property Investment Boost
For property investors researching the world’s emerging real estate markets for investment potential, Serbia and its capital city could be worth a closer look. fDi Magazine (Foreign Direct Investment Magazine, published fortnightly by the Financial Times Group UK) announced that Serbia’s capital city Belgrade is on its short list of 2006-2007 European Cities of the Future.
Belgrade property has benefited from a significant investment boost and as a direct result real estate prices are climbing, occupancy rates are increasing and demand is growing for residential, retail, office and light industrial space across the city…creating exciting property market potential for international investors to investigate and boosting the city’s overall appeal for foreign direct investment.
fDi magazine base their nominations for their European Cities of the Future review on many factors, and Belgrade has been short listed because Serbia’s capital has a fast growing economy that is managing to attract sustained international investor interest.
In 2004 the Serbian economy grew by a very stable and strong 8.6% following stabilisation assistance from The World Bank, in 2005 it grew by almost 6% and ongoing it is managing to achieve healthy gains; but the country needs more foreign direct investment and it is doing all it can to attract investor interest.
The government of Serbia are focusing their efforts on the capital city of Belgrade, rebuilding it, modernising its infrastructure and developing new residential and commercial properties.
The plan for the city is that by 2009 over one and a half million square meters of new Belgrade property will be constructed to fuel the rising demand from overseas companies relocating operations to the city and also from the migrant workers coming from across Serbia and Europe to work in this rapidly expanding city.
For property investors seeking out opportunity the fact that fDi magazine have focused in on Belgrade’s potential for expansion and development particularly in the property sector is encouraging to say the least. Companies such as Microsoft, Banca Intesa and Metro have all committed substantially to Belgrade which has increased employment opportunities, helped to increase purchasing power and which has fuelled demand for commercial real estate space and also residential property space for the companies’ employees…it seems there is further room for expansion in Belgrade however and it could well be a European City of the Future in which case those who buy Belgrade investment property in Serbia today could be purchasing a fantastic medium to long term real estate asset.
