Business news from Ukraine

Business news from Ukraine

Cash transactions dominate Serbian real estate market

In recent years, the real estate market in Serbia has shown a unique trend: the vast majority of transactions are made in cash. According to data from the

Republic Geodetic Administration (RGZ), in the fourth quarter of 2024, 89% of all real estate transactions were paid in cash, including 76% of apartment purchases. In Belgrade, this figure was 70.4%, and in Novi Sad, 71.8%.

Experts identify several factors contributing to the high level of cash payments in the real estate market:

Limited access to mortgage lending: High interest rates and strict bank requirements make mortgages less accessible to many citizens.

Savings and investments: Citizens with savings prefer to invest in real estate, considering it a reliable way to preserve capital.

Financial support from relatives: Buyers often receive funds from family members or from the sale of inherited property.

Some analysts are concerned that the high level of cash payments may indicate attempts to legalize income of dubious origin. However, according to experts such as Alexander Radivojevic, most real estate transactions in Serbia are legal, and it is incorrect to link them to money laundering without sufficient grounds.

Impact on the real estate market

The prevalence of cash payments has a significant impact on the real estate market:

Rising housing prices: High demand from cash buyers contributes to rising real estate prices.

Reduced housing affordability: For citizens who do not have significant savings, purchasing a home becomes less affordable.

Declining role of mortgage lending: Banks are facing a decline in demand for mortgage loans, which may affect their lending policies.

To ensure transparency and stability in the real estate market in Serbia, the following is recommended:

Improving access to mortgage lending: Developing programs with more favorable terms for borrowers.

Strengthening control over financial flows: Improving the effectiveness of monitoring large cash transactions.

Improving financial literacy among the population: Informing citizens about the advantages and risks of different methods of financing home purchases.

Source: https://t.me/relocationrs/1032

 

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Greek residential real estate market 2025: analysis and forecast for 2026 by Relocation

The Greek residential real estate market 2025 continues to show steady growth despite global economic challenges. Demand for housing remains high among both local residents and foreign investors, which contributes to higher prices and the development of new projects.

Current market situation

  • Price growth: According to The Luxury Playbook, the average cost of residential real estate in Greece in 2024 was $292,700, and it is expected to reach $364,500 by 2029. This indicates a steady increase in housing prices.
  • Foreign investment: The Golden Visa program continues to attract foreign investors. In 2024, more than 11,870 visas were issued, bringing in more than €2.9 billion in foreign direct investment in the real estate sector.
  • Tourism and leasing: Growth in tourism is driving demand for short-term rentals, especially in popular tourist destinations such as Athens, Thessaloniki, and the islands. However, the government is introducing restrictions on new short-term rental licenses in central Athens to balance the interests of locals and tourists.

Forecast for 2026

  • Stabilization of price growth: House price growth is expected to slow but remain positive. Annual growth is projected at 3.2% to 3.7% until 2029.
  • Infrastructure development: Large projects, such as Ellinikon on the Athens Riviera, continue to attract investment and contribute to infrastructure development, making the region more attractive to buyers.
  • Impact of interest rates: Rising interest rates may affect the availability of mortgage financing, especially for local buyers. This could lead to a decrease in demand for housing in some market segments.

Recommendations for investors

  • Consider investing in developing areas: Areas with developing infrastructure and high potential for price growth may offer attractive investment opportunities.
  • Consider changes in legislation: Keep up to date with new regulations and restrictions, especially those related to short-term rentals, to avoid unexpected obstacles.
  • Assess risks: Consider the opportunities for real estate investment. However, it is important to carefully analyze the market and consider all possible risks when making investment decisions.

Source: http://relocation.com.ua/rynok-zhytlovoi-nerukhomosti-hretsii-2025-roku-analiz-i-prohnoz-na-2026-rik-vid-relocation/

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Residential real estate market analysis in Bratislava by Relocation

We provide an analysis of the residential real estate market in Bratislava with a description of the main districts, current prices, trends and forecast for 2025-2026.

The main districts of Bratislava and real estate prices:

Old Town (Staré Mesto):

The central district with historical buildings and developed infrastructure.

In the third quarter of 2024, prices for secondary housing increased by 5.8%.

Nové Mesto:

Combines residential and commercial areas, popular with families and young professionals.

Housing prices in this area also increased by 6.5% in the third quarter of 2024.

Ružinov:

Known for its proximity to the center and developed infrastructure, including parks and schools.

Moderate price growth is expected due to environmentally friendly urban projects and the construction of new schools and parks.

Investropa

Petržalka:

The most densely populated neighborhood with numerous panel houses and developing infrastructure.

High price growth is expected due to limited housing stock and upcoming renovations of historic buildings.

Karlova Ves:

A green neighborhood that attracts families and students due to its proximity to universities.

Average price growth is forecast due to the development of hybrid workspaces and new multifunctional complexes.

Current prices and trends:

In the third quarter of 2024, the average price per square meter of secondary housing in Bratislava was €3,748, which is 9.97% higher than in the previous year.

The average rental price for a one-bedroom apartment in 2025 is about €900 per month.

At the end of 2024, there was a surge in real estate purchases, driven by the expected increase in VAT and lower mortgage rates.

Forecast for 2025-2026:

Real estate prices in Bratislava are expected to grow by 3-7% annually, depending on the area and type of property.

Supply and demand: Despite a temporary decline in demand in early 2025 after a surge in late 2024, the number of transactions is expected to stabilize and continue to grow until spring 2025.

Influence of economic factors: Inflation is expected to reach 5.1% in 2025, which may affect purchasing power and the availability of mortgages.

Overall, the residential real estate market in Bratislava is showing steady growth, driven by a combination of high demand, limited supply and economic factors.

Source: http://relocation.com.ua/analysis-of-residential-real-estate-market-in-bratislava-from-relocation/

 

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Overview of office real estate in Riga by Relocation

In 2024, the office real estate market in Riga demonstrates stability, supported by economic growth and increased business activity. Despite the moderate pace of construction of new business centers, the demand for modern office space remains high, especially in the city’s central districts and business zones.

Rental prices in different districts of Riga

  • Thecenter of Riga ( Old Town, Kr. Barona Street, Brivibas Street):
  • The most prestigious business centers and historic buildings converted for office use are located here. The average rental price varies from €12 to €20 per m² per month, and in the top premium locations – up to €25 per m².
  • Skanste (modern business district):
  • A rapidly developing business area with modern office buildings and convenient infrastructure. Average rental rates are €10-18 per m², and in new Class A properties they can reach €22 per m².
  • Purvciems, Teiki, Imanta (residential areas):
  • These districts offer more affordable options for small and medium-sized businesses. Office rental prices here range from €7-12 per m², making them attractive for startups and small companies.

Trends and forecast until the end of 2025

  • Growing demand for flexible office space
  • Coworking and short-term office space continues to gain popularity, especially among IT companies and freelancers.
  • Limited new construction
  • The pace of commissioning of new business centers remains restrained, which supports the level of prices, especially in the central areas.
  • Stability of rental rates
  • Office rents in Riga are expected to remain stable until the end of 2025, with possible minor adjustments depending on the economic situation and demand in key business zones.

Thus, the office real estate market in Riga continues to develop, remaining attractive to occupiers, especially in modern business centers and flexible office spaces.

Source: http://relocation.com.ua/ohliad-ofisnoi-nerukhomosti-ryhy-vid-relocation/

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Analysis of the German residential real estate market in 2024

In 2024, the German residential real estate market faced a number of challenges, including falling prices, slowing construction and rising borrowing costs. Here are the key trends and forecasts for 2025, focusing on the country’s largest cities.

Decline in housing prices

In the first half of 2024, the average asking prices for new and existing apartments decreased by about 3.6% compared to the same period in 2023. This decline is less pronounced than in previous periods, when the drop reached 7.3% and 7.4%, respectively. The largest annual decline was recorded in Frankfurt am Main – by 6.5%, while in Hamburg the decline was only 0.6%.

The situation in major cities

Munich: The most expensive city in Germany with an average price of about 11,000 euros per square meter. In 2024, there was a 5.2% decline in prices for new buildings.

Berlin: The average housing price was around 7,920 euros per square meter.

Hamburg: A 5% decline in new construction prices, which is one of the smallest declines among major cities.

Frankfurt am Main: The largest year-on-year price decline of 6.5%.

Düsseldorf and Leipzig: On the contrary, these cities recorded an increase in prices for new buildings by 4.1% and 8.7%, respectively.

Housing shortage and construction activity

According to a study by the Federal Institute for Building, Urban and Spatial Research (BBSR), Germany needs to build 320,000 new apartments every year until 2030 to meet growing demand, boosted by the influx of immigrants from Ukraine and Syria. However, in 2024, only 216,000 apartments were authorized, the lowest number since 2010 and reflecting the real estate crisis.

Financial performance and investments

Germany’s largest real estate group, Vonovia, reported its third consecutive annual loss in 2024, amounting to EUR 962.3 million, due to significant write-downs in property values. Nevertheless, CEO Rolf Buch predicts a return to profitability in 2025, provided that real estate prices stabilize.

Forecast for 2025

German house prices are expected to grow by 3.5% in 2025, although there is a significant risk of weaker growth. The market continues to face difficulties due to high borrowing and construction costs. Rental growth is expected to exceed house price growth, making it difficult for potential buyers to save a down payment.

In general, the German residential real estate market in 2024 was characterized by declining prices and slowing construction activity. Forecasts for 2025 suggest a moderate increase in prices, but the market remains sensitive to economic and political factors.

Source: http://relocation.com.ua/analysis-of-residential-real-estate-market-in-germany/

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Egypt seeks to raise up to $15 bln annually through real estate sales to foreigners

Egypt aims to raise between $10 and $15 billion annually through the sale of real estate to foreigners, targeting foreign investors to boost economic growth and transform the real estate market.

According to Dr. Abdel Monim El Sayed, Director of the Cairo Center for Economic Research, real estate exports can generate significant revenues if organized effectively. He emphasized the need to introduce clear policies aimed at simplifying the procedures for acquiring property for foreign investors. El-Sayed noted that despite the potential of the Egyptian real estate market, there are obstacles, such as the lack of reliable data on exported properties and the absence of a single regulatory body that would meet global standards.

As an example of the successful implementation of such initiatives, in 2024 Dubai recorded real estate sales worth over $18 billion, and total real estate exports to the UAE exceeded $45 billion. These figures demonstrate that with the right structures in place, Egypt can achieve similar economic success.

However, there are challenges, especially related to the condition of real estate. El-Sayed noted that many properties are not fully completed, which can deter foreign buyers who prefer move-in ready options. He also emphasized problems with non-transparent contracts and administrative difficulties in registering and transferring property, which creates additional barriers for potential investors.

In response to these problems, the need to establish a central regulatory body to oversee the real estate sector is emphasized. El Sayed emphasized the importance of establishing binding rules for contracts, quality standards for finishes, and financial criteria for developers. Such a body would ensure the safety of buyers’ funds and reduce risks for foreign investors.

The government’s proposal includes conditions such as a minimum property value of $300,000 for foreign buyers and foreign currency payment requirements, which should facilitate transactions. The main goal of this initiative is to support the inflow of foreign currency to Egypt and effectively balance supply and demand in the real estate market.

The simplification of processes and targeted incentives are expected to increase the attractiveness of Egyptian real estate for foreign investors. The government aims to position Egypt as an attractive choice for international buyers, accompanying these measures with a large-scale promotional campaign aimed at attracting foreign real estate buyers, which is in line with global trends in investing in emerging markets.

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