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Post by radovic on May 6, 2008 10:35:06 GMT -5
Real Estate Prices in Serbia Rise Drastically
Balkan Travellers
30 April 2008 | Property prices in Serbia are growing drastically because of a low supply and high demand, national media reported today.
The demand for flats is bigger than ever, according to the Vecherne Novosti newspaper, which added that real estate prices have grown by up to 30 per cent in the last three months because of the low amount of offers.
Most buyers manage to purchase property through mortgage loans, the media reported.
While foreign investors have shown an interest in the country, it is difficult to offer them free space for construction. Most of the building works are currently financed by domestic investors, according to George Bobic, Belgrade’s chief architect.
Housing construction, Bobic added, is usually limited to lower buildings and new high-rise apartment blocs are almost non-existent.
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