Belgrade - Serbia

[Alessandro]

Belgrade certainly represents an emerging market with huge potentials.
I have been studying the Belgrade market (residential, Commercial, Office, Logistic) and i must admit the potential are huge, especially today that many new big player (mainly form Israel) entered the market building Luxury Hotels, Shopping malls and Offices around the city.

The macro economical indicators show a recover, even if from an heavy past.

The purchase power of foreigner coming from Euro/GBP/U.S. Dollar area is remarkable.
The city is gorgeous and extremely vivid.

Someone has experience in the Serbian market?

 

[nmb]

From what you say the area seems to be recovering quite strongly with significant investment and strong purchasing power for overseas investors. These are the type of opportunities which require some forward thinking as even seeing the words "Belgrade - Serbia" reminds many of the difficult past (providing an opportunity for sensible level headed investors).

Personally I think successful investors are more prone to look forward than back as the area has changed dramatically since the dark days.

 

[Alessandro]

Well,the recover is in process, but still far to be completed.
Basically it'll take few more years before the markets will be decently liquid to assure fast and profitable exchanges;
In the while there's space to find a position in the market (Like Israeli are doing) and gain in the future the appreciation.

I understand your opinion, and to be honest i can't blame you, but still Belgrade is the only remaining case of an European emerging city with huge margin of growth.

They are opening to the free market and this should bring some good consequences.

 

[Nicholas Wallwork]

I think given that more stable European countries are still struggling with growth, it is unlikely that emerging markets will do much better until the overall world economy shows more signs of stability and growth in the "traditional" property investment hotspots...


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[nmb]

It is difficult to balance the risk/reward ration sometimes with emerging markets when mainstream markets such as Spain, etc are still struggling. However, fortune favours the brave and when European economies do eventually recover, the pick-up in emerging markets could be strong and swift. This is probably a trade on changing investor sentiment as well as a general recovery in EU markets.

 

[Alessandro]

Well, i must agree with you Nicholas.
Emerging markets has to do by themselves if they really want to recover as the core markets will still take awhile to recover completely.
From this point of view Serbia, and for instance Belgrade, is not an exception.

On the other hand i had the sensation history is coming back..... before the second world war Belgrade city center was a sort of Jewish enclave.. and i think time is getting mature them to come somehow back; and we all know Jewish do generally like to invest in real estate.

 

[Alessandro]

Hi nmb,
i personally believe Spanishmarket, although a traditional overseas property destination, went totally devastated by the crisis and what was considered a core market became and behaves as an emerging one.
Then no doubt Spain will recover faster than the R.E. markets on the Eastern Europe.

 

[Nicholas Wallwork]

Yes Spain is already recovering fast from what I can tell... now a lot of the bank repossessed stock has been sold prices can start to slowly recover again...


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[nmb]

Is it time to start dipping a toe into the Spanish property market?