27
Mon, May
62 New Articles

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.

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.

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.

The annoying length of the construction permitting process in the Czech Republic became a notoriety. Thanks to this, the prices of new dwelling premises are sky-high, and foreign investors are leaving their projects because they are unable to plan their investment – a striking example of which is the recently abandoned Microsoft project of a new data center in Prague.

Due to various historical reasons, a large percentage of undeveloped construction land in Croatia is still owned by the state. As a result, developers of (primarily greenfield) real estate projects have often had to go through a laborious and lengthy process to acquire construction land from the Republic of Croatia. Recent legislative changes could mark a decisive shift toward decentralization and a more efficient management system, potentially streamlining processes that were previously mired in bureaucratic complexities.

During 2023, there have been significant changes in the legal regulations in the field of planning and construction as well as in terms the Real Estate Cadastre in Serbia. In August, amendments to the Law on Planning and Construction entered into force, while in November, amendments to the Law on the Registration Procedure with the Cadastre of Real Estate and Utilities (which is now called the Law on the Registration Procedure with the Real Estate Cadastre and Infrastructure Cadastre) entered into force.

More Articles ...

Our Latest Issue