The Position of the Serbian Real Estate Market in the Region

Serbia and Belgrade have especially great prospects in terms of quality and luxury residential construction, which will attract foreign investors and give Serbia a leading position in the regional real estate market- a conclusion od this kind was reached at the fourth panel discussion BelRE.

- Infrastructure is something that should go by this perspective. Serbia did not have investment activities as well as countries in the region, for example, Montenegro, Croatia, Bulgaria and Romania, but I think that Serbia has the most potential currently. I think that now, when construction sites are cheaper and more easily available, investors need to invest and build, in residential, as well as industrial real estate market - said Mr. Goran Gojakovic, director of investments holding "BOMEX".

The reality of development of corporate investment in Serbia and the real potential of the real estate market according to Mr. Jovica Jakovca, Director of "Colliers International" is positive.

- I would add Macedonia to the regional market, because when we look at foreign investors, they are as Serbia, Montenegro and Macedonia, and we may not use the past for the occasion. Specifically, foreign investors, a market of 7 million people is not as interesting as a market of 20 milion that the three countries have. I believe that in the future we will not think about the market within the natonal border, but instead will start thinking about the region as a whole -said Mr. Jakovac.

He added that he agrees that presently Serbia and Montenegro have limited resources, mainly in the hotel industry, while Macedonia will probably be the logistics center, because Serbia can not seem to take on this role as well.

Bosnia in the future may be a center of industrial construction, while Serbia has the potential in all sectors.

- We are center of the region where, Belgrade is the capital of the former Yugoslavia, regardless of whether people liked it or not. We have many possibilities, but the problem is in deciding what to do first-concluded Mr.Jakovac.

Director of financial groups, "Danon BNP Paribas" Mr.Jovan Jovanovic said that they often hear the opinion of investors in Belgrade, Serbia, and that to some extent they understand why this is so, but he emphasizes that all of Serbia has the potential to be used for investment, which would in benefit the rest of the country.