The State of Serbia has signed an agreement with the European Bank for Reconstruction and Development (EBRD) to receive a loan of €50 million. The funds will be used to modernize centralized heating systems and improve their energy efficiency in various cities across the country.
The project aims to reduce energy consumption and harmful emissions, as well as operating costs for heat supply companies. The authorities emphasize that both institutions and ordinary consumers will feel the benefits.
As noted by Finance Minister Sinisa Mali, the signed agreement confirms Serbia’s strong commitment to the “green transition.” According to him, the project involves the reconstruction of heating substations, replacement of pipelines, installation of automation systems, and in some cases, the transition to environmentally friendly energy sources such as biomass or solar collectors.
Minister of Mining and Energy Dubravka Djedovic Handanovic added that the implementation of the project will ensure stable and high-quality heat supply in winter and will also help reduce dependence on imported energy sources.
The project will be part of a broader program to modernize municipal utilities, which the EBRD has already supported in the past. According to preliminary estimates, the modernization will reduce energy consumption by 25-30% in the upgraded systems.
EBRD representatives said they consider Serbia a key partner in the Balkans and will continue to finance sustainable projects in the energy, transport, and infrastructure sectors.
Source: https://t.me/
Serbian President Aleksandar Vučić arrived in Odessa to participate in the Ukraine-Southeast Europe Summit. This is his first visit to Ukraine in 12 years in office.
The event, organized by Ukrainian President Volodymyr Zelensky, was attended by leaders from 12 countries in the region. After the official talks, Vucic and Zelensky held a private meeting.
During the discussion, they discussed assistance in rebuilding Ukraine after the destruction caused by Russian missile and drone strikes. Vucic also expressed Serbia’s readiness to contribute to the restoration of infrastructure, stressing the importance of restoring regional balance and stability.
Source: https://t.me/relocationrs/1065
The mortgage market in Croatia is showing stable activity thanks to government programs, favorable conditions offered by banks, and steady demand from both citizens and foreigners.
Since 2017, the SSK (Subvencioniranje stambenih kredita) mortgage subsidy has been in effect, whereby the state compensates up to 50% of the monthly annuity for the first five years on loans of up to €100,000 issued to first-time residents. Pilot assessments show that these measures have led to an increase in housing prices, especially in large cities.
Terms and conditions of mortgage programs at banks
HPB (Hrvatska poštanska banka):
Fixed rate from 2.89%, APR (effective) — 3.00%, term up to 30 years. No property appraisal costs.
OTP banka:
Rate 4.69%, APR 4.93%, term up to 20 years, amount up to €200,000.
Agram Banka:
For new customers, the APR is 5.49% for a 20-year loan (example — €50,000).
Podravska banka:
Fixed rate of 5.90%, APR — 6.15%, no issuance fee.
Conditions for foreigners
Citizens of the EU, Switzerland, Iceland, Norway, and Liechtenstein can obtain a mortgage on the same terms as Croatians. For non-residents, LTV is 50–70%, with state control over the project; a residence permit or long-term stay may be required.
History of rates: from 2017 to 2025
2017–2019: rates were fixed below 3%, especially in HPB, thanks to subsidies and other benefits.
2020–2022: rates rose gradually in line with Eurobonds and monetary easing, reaching 4–5%.
2023–2025: current rates are fixed at 2.9–5.9%, ECA — 3–6%, reflecting tight credit conditions.
The Croatian mortgage market combines state support (SSK), a wide range of offers from banks, and accessibility for foreign buyers, especially from the EU. As a result, potential borrowers can expect rates ranging from 2.9% to 6%, fixed for the entire term of the loan, which is 20 to 30 years.
Source: http://relocation.com.ua/mortgages-in-croatia-overview-of-conditions-and-trends/
A sharp drop in the Euribor interbank rate by 0.25 percentage points in June 2024 and subsequent easing reduced the cost of mortgage lending. This brought buyers back to the market, especially large families and investors.
After the winter slump, an unexpected surge in transactions was observed in January: the number of available properties fell by more than a third, and some market segments experienced shortages. This signaled a recovery in demand.
New changes in legislation have eased refinancing conditions, with a number of fees abolished and commission thresholds reduced. This has encouraged homeowners who are willing to change their loan terms.
Renting a home to avoid extreme risks is becoming a lifestyle choice—renting is no longer just a temporary measure, but a full-fledged alternative to buying. Cafes, coworking spaces, and city services have moved renting into a new category.
Latvians continue to invest in housing abroad, especially in Southern Europe, and foreign investors are attracted by the growing rental market – but government regulation has already restricted short-term rentals in some countries.
There is active construction of rental housing (ALTUM projects) in the regions. However, housing shortages in cities such as Ventspils, Cesis, and Jurmala remain a problem.
According to estimates, average housing price growth rates in Latvia are expected to be in the range of 3-7% by the end of the year. For example, a 60 m² apartment in Riga for €150,000 could rise in price to €154,500-160,500.
Breakdown by property type:
Property type Growth forecast
Studio (30 m², €75,000) to €77,250-80,250
Apartment (75 m², €200,000) to €206,000-214,000
Penthouse (100 m², €500,000) up to €515,000-535,000
Where the highest price growth is expected
Serbian Finance Minister Sinisa Mali has stated that Serbia is interested in obtaining a concession to manage two international passenger airports in Montenegro — in Podgorica and Tivat.
According to him, despite repeated appeals to the Montenegrin authorities, Serbia has not been included in the process of considering concession proposals.
Mali stressed that Serbia is ready to invest in the development of these airports in excess of the current offers and has the necessary experience and resources to modernize aviation infrastructure, citing the successful development of Belgrade’s Nikola Tesla Airport.
The Montenegrin government is currently considering proposals from three companies interested in the airport concession, including a consortium from France and Turkey, as well as companies from Luxembourg and South Korea. The decision on the transfer of the airports to concession will be made after analyzing the proposals received.
However, there is active debate within Montenegro about the advisability of transferring the airports to concession. Some experts and trade union representatives have expressed concerns that such a move could lead to a loss of control over strategically important assets and negatively affect the country’s economy, especially given the significant role of tourism in Montenegro’s GDP.
Thus, despite the interest of Serbia and other foreign investors, the future of Montenegro’s airports remains uncertain, and the final decision will depend on the balance between economic interests and national development strategy.
Source: https://t.me/relocationrs/1041
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
