As the market changes during years, every topic is a sensitive one to be discussed and claim for sure. But living in the Balkans and experiencing the market changes ourselves, let’s mention possibilities, fears, and facts.
Here is a list of Top 5 aspects, which define property prices in the Balkan area for 2020:
- Emigration
- General Balkan economy isn’t growing as the market itself shows clearly raising rate-bubbles.’ The unemployment profile is running higher and higher every passing year, despite the international investments.
- We couldn’t resist without mentioning that the weather is wonderful, there is not a lot of communism sense in the air, but still, Balkan’s population prefers western cities of Europe, rather than capital cities of their home counties.
- Ridiculous claims are made each day regarding the wage rates rising in 2020, but the truth is that for Greece, Croatia, Serbia, Montenegro, Albania, Bulgaria, and Romania, there is nothing alike with economic growth, but a political campaign.
- Foreign Investments in 2020
- There is no such bad-timing regarding foreign investments in the Balkan territory. Being one of the most hospitable regions in Europe, the Balkans proudly wears its rich nature and geographical orientation for endless property opportunities.
- Even though this is the information we want to hear about all the time, it is not 100% true and hopefully, this is going to change during the next years. What we know for sure is that transparency of high tax levels presented to foreign investors is aiming to continue growing during 2020 as well. So, Balkan is not ‘Mediterranean-hospitable’ anymore?
- 2008 Market Crash still affects properties’ prices nowadays even in the Balkans.
- It doesn’t matter whether someone was a child or an adult, everyone who lived during the year of 2008 has heard about the great market crash in 2008. Predictions claim that every 10 years the same thing occurs, so we got prepared in 2018, and we will hopefully get prepared in 2028 as well.
- The world’s economy was shocked by the bankruptcy and there was no more “safe pavement” to walk on. Balkan experienced the same thing as well. The housing market tried all the different ups and downs since then and people are afraid of making these kinds of investments in a bubble market.
- Daily rental houses are the new enemy of its selling price.
- The list above contains many aspects that lead us to the decrease rates of property prices in the next year. It is a good thing to know that rental apartments and houses are being highly valued as the time passes.
- Not only monthly rental houses, but also the daily ones are increasing their prices, because more and more property owners in the Balkan area are being client-oriented towards the greater profits. It doesn’t take a professional mathematician to make quick calculations and add everything to an approximate yearly ‘salary’ and discover that renting a house and turning it into a daily rental business is better that buying a house, which value you don’t know from tomorrow and on.
- Conclusion? Property price rates in 2020 tend to go down as the new ideas ‘hit’ the population and turn everything into business.
