Property for sale in Sarajevo

Bosnia and Herzegovina (BiH) is at a critical juncture. There is the prospect of stronger State institutions and closer relations between its two Entities, the Federation and the Republika Srpska (RS). There is equally the prospect of greater respect for human rights, democracy and the rule of law; greater social and physical security for all inhabitants, as well as increased economic growth. Get more information on property in Bosnia and Herzegonvina

A unified property for sale registration system and real property market are important tools to achieve a stable future for BiH. They are essential if inhabitants of Sarajevo are to fully exercise their property for sale rights, and if the State is to achieve a successful transition. This is the case for a number of reasons:

·  Almost all family assets in Sarajevo are in land or real estate – and property for sale is therefore the major commodity in the market. The efficient use and management of this precious asset is therefore essential to a successful transition to a market economy.

·  Foreign direct investment is particularly important for the development of Sarajevo. Any investment, whether industrial, commercial or otherwise is likely to involve an element of investment in the domestic real estate market. Investment will not occur until the uncertainties relating to ownership and property for sale title are minimised. Until this occurs, the perception of risk will outweigh the potential investment benefits.

·  Without a clear real estate framework, which encourages market transactions, the full

potential of the market will not be realised. Many property owners want to transfer their

property for sale interests,1 though at present, it is almost impossible to find sound advice on access to the market and banking structures do not facilitate mortgage lending. As a result, market activity is lower than demand, and many have not been able to find durable solutions to their housing needs.

·  Denying people their right to property for sale was a cornerstone of the war, a weapon that was used to consolidate power and to minimise dissent. The full exercise of property for sale rights therefore reverses one of the worst aspects of the war, and enables citizens to exercise greater control over their futures.