Any short term "noise" generally isn't a good reason to invest. Invest if the fundamental numbers look good, you know the area, and the long term prospects for the area look good. Don't speculate on making a quick buck if they join the Euro-zone, housing prices don't usually jump on news reports like stock prices do.
Thank you Aaron:)
Interesting. I lived and worked in development in Russia and Eastern Europe for many years and an very interested in Serbia as an investment location. Southern European countries can go on topsy-turvy development rides, but despite local rental markets, cheap airfare can help an airbnb rental business work. The housing stock in Belgrade is fabulous and I've been hearing more and more form my northern and western european friends that they are loving to travel to Belgrade for discounted specialized medical care and/or a generally lovely holiday.
I lived for a time in Budapest and was amazing at the rate and quality of development, despite crazy political happenings and generally disruptive politics.
Let me know what you turn up, and if you decide to take the jump!
Great place for tourism ATM. I currently run a couple of AirBnB's in Novi Sad and Belgrade. If your looking to invest in the area make sure to do your due diligence. Contact me if you would like more info.
Who manages those properties for you? Are you in the States or in Serbia?
Are you ever afraid of legislation against AirBnB? I don't see why a country like Serbia would be against it, just curious.
@Marko Zlatic no need to worry about AirBnb because soon will be new law about short term rentals in Serbia. Tax will be 200€ per apartment per year and thats all you need to pay to the government. This is only for individual renters. For companies nothing to change in taxation.
I currently reside in Arizona. I do travel fairly often back and forth but day to day operations are handled by my immediate family. We outsource cleaning/setup of the rentals to a local company.