Huge Interest of Foreigners To Buy Property in BiH

Foreigners are displaying a growing interest in buying property in BiH, and among them are citizens of Saudi Arabia and Russia. Apart from apartments and houses, they are also buying land and lots.

‘’Sarajevo is a very attractive place for Arabs, mostly due to its role as the capitaly city and they decide to buy land here and then build large commercial buildings’’, said Amir Hota, the owner of the agency “Cicko Nekretnine”. This agency deals with property transactions throughout BiH, writes ‘Dnevni Avaz’.

According to him, citizens of Syria, Jordan and Kuwait are the top buyers for buying land in Sarajevo.

They have a greater interest in buying lots, up to 200 dunums. Since we are talking about a large plot of land, and they pay from 3-5 KM a dunum. They tend to buy land that is located in the center of the city, so the most expensive property is in Marin Dvor. They intend to build luxury shopping malls’’, said Hota.

He adds that they are interested in quality and luxury property and apartments, while BiH citizens buy apartments up to 100.000 KM.

There is a big interest among foreign citizens and governments to buy land near Visoko, and for the locations buyers from all over the world have expressed interest, explained Hota.

“Visoko has become a tourist center due to the pyramids, so foreigners are interested in buying land, houses in Visoko and in the areas around it. Apart from Visoko, they find Mostar appealing for several reasons. However, the unstable political situation has affected the purchasing of land and apartments in that city’’, said Hota.

Apart from Arabs, Russians also have a high interest in buying property and land in BiH. They are buying property in attractive locations in the area surrounding Trebinje, regardless of the price.

According to the owner of the real estate agency “Tviko” Vaso Milić from Trebinje, they are interested in the purchase of huge plots of land.

“The Russians are buying land around Aranđelov and Jazina, which borders with Montenegro. They are interested in houses in the neighborhood of Ivanica, which belongs to the FBiH and is near the border with Croatia. For real estate and land that they have bought here, they have allocated more than 1.5 million KM. They are interested in locations around the river that flows through these areas, so they are looking for more square footage. An advantage is that citizens of these countries are able to obtain a residence permit without problems. They can register their cars in their names, and the procedure to obtain a building permit is quick’’, said Milić.

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