In the last decade, Montenegro has focused on creating a favorable business environment, attracting renowned foreign investors and resulting in significant economic development and growth. The government has been focusing on high-level tourism, transitioning from seasonal to year-round hotels that offer luxurious stays and services.
Slovenia: Above-Standard Construction in Slovenia and ESG Requirements
The Slovenian real estate market is characterized by an excess of demand over supply, especially in the residential real estate sector, which has pushed property prices sky-high. Low interest rates on financing in recent years have led to a number of easy-profit-seeking (half-professional) investors – usually project companies building so-called “above-standard” construction.
Estonia: Challenges of Large-Scale Construction Projects in Estonia
In a compact nation like Estonia, the prominence of construction projects can swiftly transcend local interests and become matters of national interest. The escalation of public attention toward large-scale construction projects invites heightened scrutiny by different interest groups. Notably, several recent projects have become entangled in legal disputes, profoundly impacting anticipated timelines and financial forecasts. This article aims to delineate emerging patterns from recent cases and offer recommendations aimed at preventing and avoiding legal contentions.
Kosovo: An Overview of Foreigner’s Property Rights in Kosovo
The ever-growing real estate market in Kosovo shows no signs of stopping. Even amid high prices, demand for real estate keeps growing. This demand is largely driven by Kosovo’s diaspora living in the EU and other Western countries. It is also fueled by foreign nationals and foreign companies who find properties in Pristina and other major cities in Kosovo attractive as investments.
Bosnia and Herzegovina: An Overview of Real Estate Legislation
Bosnia and Herzegovina (BiH) is a country in the south-east of Europe (the so-called “Balkan region”) with an area of 51,229 square kilometers. In accordance with its political and legal structure, BiH is divided into two entities (the Federation of Bosnia and Herzegovina – FBIH – and Republika Srpska – RS) and the Brcko District (BD BIH). The real estate market is a significant part of the economic activity of BiH and is governed by a set of legal regulations which follow international standards for the protection of property rights. In the course of 2022 and 2023, there was a strong investment wave in the real estate market.
Slovakia: The Problem with Building Permits
Permitting of any projects is a long-standing problem in the Slovak Republic. In international surveys, Slovakia ranks at the bottom, as it takes an average of 300 days to permit a simple building such as a family house. This problem becomes much more acute in the case of constructions that are more complicated and require the assessment of several administrative bodies or may have a significant impact on the environment.
North Macedonia: The Growth of Real Estate Prices and the Demand for Buying and Selling Real Estate
In recent years, the real estate market in the Republic of North Macedonia, particularly in its capital city of Skopje, has witnessed significant activity. Statistics indicate a consistent trend of construction and sale of numerous residential apartments. Notably, despite the steady increase in real estate prices since 2021, there has been a notable surge in demand for residential apartment purchases. Concurrently, investor interest in constructing residential and office buildings remains robust, showing no significant signs of decline.