Recently published research from Business Monitor International, "Bosnia-Herzegovina Real Estate Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/17/2013 -- Bosnia & Herzegovina's political and economic backdrop continues to stymie growth in both the construction and real estate segments. While on the whole, the leasing market in 2012 remained flat with marginal upside growth, a re-engergisation of the sector is very much dependent upon broader economic recovery both domestically and regionally. As such, we anticipate an uninspiring year for the country's commercial real estate segment, with risks firmly weighted to the downside.
With a focus on the three principal cities of Sarajevo, Trebinje and Zenica, the report covers the property fundamentals of the commercial real estate market rental market and examines the office, retail, industrial and construction segments throughout the country, in the context of the struggling domestic and regional economy.
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Politicians in Bosnia-Herzegovina are coming under increased criticism from the EU for not showing the will to make badly-need reforms and drive the country's EU integration. While growing pressure at home and abroad may push the government to approve measures, we expect ethnic concerns to continue to trump EU ambitions among the political leadership.
Though final data for real growth in 2012 has yet to be released, preliminary estimates from the Bosnia- Herzegovina Agency of Statistics (BHAS) suggest that the economic downturn was more pronounced than first estimated. According to BHAS data, the economy shrank by 1.1% in 2012, compared to the 0.5% contraction first estimated by the central bank. The worst hit sectors were agriculture (-11.4%), manufacturing (-1.1%), and construction (-2.2%).
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