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Massive economic restructuring offers potential for a speculative market to take off

Macedonia, for those not familiar with it, is a small, landlocked country in South Eastern Europe – a region that has experienced a turbulent and unstable recent past. For many, Macedonia is still perceived as one of the Balkan’s volatile areas.

In fact, over the last few years the country has managed to achieve a high degree of political and financial stability, which we believe may offer the property investor a speculative market about to take off.

Our Macedonia Property Market Profile examines in great detail the fundamentals that underpin both the country's future stability and prosperity and, of course, the performance of the property market.

This includes the politics of Macedonia, the potential - and much-desired - accession to the EU, economic indicators, existing and potential Foreign Direct Investment (FDI) and the Macedonian propery market:

The new, dynamic government is aggressively promoting Macedonia with the aim of attracting foreign investors.

FDI inflow is crucial for a country like Macedonia, which does not have significant natural resources, and is relatively poor with high unemployment.

In order to make the country competitive in the SEE region, the government is creating a pro-business climate and a very attractive tax environment for investors.

All this adds up to an emerging market worthy of consideration as an investment location. The Property Market Profile goes on to say:

Excerpt - p5...

If Macedonia succeeds in its aim of introducing further economic reforms and attracting increased FDI inflow, we can see all the necessary components for sustained growth and an interesting property market for investors developing in Macedonia.

Essential to this success - at least in the eyes of most Macedonians - is accession to the European Union. The Macedonia Property Market Profile examines the country's efforts so far and likelihood of this occurring.

Excerpt - p12...

EU membership is an absolute priority for the country and almost 100% of Macedonians fully support accession...

The Stabilisation and Association Agreement with the EU was signed in 2001. In March 2004, Macedonia applied for candidate status and gained it in November 2005.

While the date for starting negotiations with the EU has not yet been announced, it is expected that they will start in 2008.

According to the European Commission, Macedonia is well on its way to satisfying the political criteria for EU membership. It is a functioning democracy, with stable institutions, which generally guarantee the rule of law and respect for fundamental rights.

There is a word of caution, however. Macedonia's property market is at a very early stage of development and while there is great potential there remains great risk. In order to gauge when the right time to invest in its property market you need to be fully aware of all the contributing factors.

That is why we have produced this 59-page Market Report - to give you the knowledge and information you need to make the right decisions at the right time.

Excerpt - p7-8...

Macedonia is a market to monitor and to reassess in 18–24 months time as the potential for growth is certainly apparent.

The potential lies mainly in overcrowding.

Despite a reasonable supply of housing, the average size of households (3.6 people) is still way behind the European standard (1.9 people) and 50% of all households consist of four to five people.

The trend, then, if it is to follow those elsewhere, is for more households to be created and for, housing demand therefore, to increase.

In detail, the Macedonia Property Market Profile covers these subjects:

Economy

• Transport
• Telecommunications
• First Wi-Fi country
• Trade
• Agriculture
• Industry
• Services
• Steady growth
• Financial stability
• Inflation
• Currency
• Government debt
• Labour market
• Unemployment
• Low labour cost

FDI

• FDI inflow
• Tax advantage
• Special Economic Zones
• One-stop shop system
• Corruption
• Fourth top reformer in the world

Property Market

• How we classify the market and why?
• Home-ownership
• Mortgage market
• Emerging middle class
• Supply and demand
• Housing stock
• Overcrowding
• Growing population
• Supply
• Prices
• Property market in cities
• Rentals
• Holiday home markets

In addition, the Macedonia Property Market Profile contains a Buyer's Guide, where Macedonia might fit into an investors' portfolio and useful links to further your research into this market.

Click here to download it now