Serbian real estate market attractive for investment - REBEC expo opened in Belgrade

Direct investments in the European real estate market in 2010 reached EUR 20.6 billion, 68 percent more than in 2009, it was said on Monday at the opening of the real estate expo Rebec (Real estate Exhibition and Conference), which is held until June 22 in Belgrade.

The Serbian real estate market is, in the opinion of REBEC Director Aleksandar Opsenica, young, underdeveloped and unregulated, but there are certain indications that, even such as it is, that market is still attractive and recommended to investors.

Opsenica told Tanjug news agency that all the government measures aimed at stimulating the development of the construction industry, including solutions related to the improvement of real estate development by the model of leasing, subsidies for new jobs in new industrial projects and support to quicker development of the hotel industry, as well as adopted plans for the development of spa resorts in Serbia, showed that Serbia was more attractive for investments than surrounding countries.

As he explained, this year's expo, which is being held in Belgrade for the fourth time, is not going to gather any exhibitors "because the things that exhibitors had in their plans have not happened in the market so that they were unable to continue their preparations", which is, as he said, a sign that financial terms for real estate incentives in the domestic market are rigid and that very few projects, according to banks' calculations, acquire the right to qualify for the project finance or a loan.

Opsenica said that the expo would include five panel discussion, including the ones focusing on the property appraisal and the golf industry development in Serbia.