"Bosnia-Herzegovina Real Estate Report Q1 2011" now available at Fast Market Research

Nov. 19, 2010 - PRLog -- Although smaller in absolute terms and perhaps less well integrated into the global economy than other countries in Central and Eastern Europe (CEE), Bosnia has not escaped unscathed from the global financial crisis. Economic growth at near double-digit rates in the middle of the decade was followed by expansion of only slightly more than 5% in 2008 and a 3% contraction in 2009. As 2010 progressed, it became clearer that the economy is likely to remain weak for some time to come. Households are likely to contribute far less to economic growth than they have in the past, and the government is pursuing a tough fiscal policy.

Economic conditions were such that a number of real estate projects have been shelved. Nevertheless, the supply of commercial space (for offices, retail and residential use) from projects whose construction ended in 2009 (or which are due to be completed in early 2010) means that pressure on rents will be downwards in Sarajevo and most other centres.

We interviewed our in-country sources at the beginning of 2010 and again in the middle of the year. The second round of interviews gave us clearer details of yields in Zenica, but generally confirmed our earlier findings.

We expect that yields in all sub-sectors will continue to fall in Sarajevo through 2010 and 2011. This is because rentals will likely fall further in an environment where there are few property transactions. However, we expect that capital values (prices) will reach market-clearing levels in 2012 and that yields will rise gradually thereafter.

The patterns for Trebinje should be different. The development of the airport appears to have fostered sufficient interest in commercial property, relative to available space; such that yields are currently well below those of Sarajevo. We expect that rents will rise faster than capital values, with the result that yields move upwards towards those prevailing in the capital. For the time being, though, we expect yields in Trebinje will continue to be well below those of Sarajevo - across all three major sub-sectors - through to 2015.

We envisage that yields will rise in Zenica as well, and that they will still be below yields in Sarajevo in 2015.

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Report Table of Contents:

Executive Summary
SWOT Analysis
- Bosnia & Herzegovina Real Estate/Construction SWOT
- Bosnia & Herzegovina Economic SWOT
- Bosnia & Herzegovina Business Environment SWOT
Regional Real Estate Overview
- Table: Central And Eastern European Office Markets At A Glance - Rents, 2009-2011 (EUR per m2 per month)
- Table: Central And Eastern European Retail Markets At A Glance - Rents, 2009-2011 (EUR per m2 per month)
- Table: Central And Eastern European Industrial Markets At A Glance - Rents, 2009-2011 (EUR per m2 per month)
Real Estate Market Overview
- Table: Bosnia & Herzegovina's Real Estate Market - Rentals, 2008 And 2009 (msq/month, EUR)
- Table: Bosnia & Herzegovina's Real Estate Market - Net Yield, 2008 And 2009 (%)
- Table: Bosnia & Herzegovina's Real Estate Market - Terms Of Contract/Lease
Forecast Scenario
- Real Estate Outlook
- Table: Bosnia & Herzegovina's Real Estate Markets - Rentals, 2009-2011 (EUR, m2/per month)
- Table: Bosnia-Herzegovina Real Estate Markets - Forecast Net Yield (%)
- Construction And Infrastructure Outlook
- Bosnia's Macroeconomic Outlook
- Table: Bosnia-Herzegovina - Macroeconomic Data And Forecasts
Business Environment
- Real Estate/Construction Business Environment Ratings
- Table: Europe Real Estate/Construction Business Environment Rating
- Bosnia's RECBER
- Project Finance Ratings For Central And Eastern Europe
- Table: Design And Construction Rating
- Table: Commissioning And Operating Rating
- Table: Central And Eastern Europe Overall Project Finance Rating
- Bosnia's Business Environment
- Table: BMI Business And Operation Risk Ratings
- Table: BMI Legal Framework Rating
- Table: Annual FDI Inflows Into Central And Eastern Europe And Central Asia
- Table: Trade And Investment Ratings
- Table: Bosnia's Top Export Destinations, 2000-2008 (US$mn)
Company Monitor
- Delta M Group/ Delta Real Estate
- GP Put dd Sarajevo
- STRABAG SE
- TriGranit Development Corporation
- Vranica dd Sarajevo
BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
- Table: Weighting Of Indicators
- Project Finance Ratings Indicators
- Table: Design And Construction Phase
- Table: Commissioning And Operating Phase - Commercial Construction
- Table: Commissioning And Operating Phase - Energy And Utilities
- Table: Commissioning And Operating Phase - Transport
- Sources

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.