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Archived Articles
Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Serbia: The shadow of MilosevicIt's difficult to get rid of an authoritarian political regime. It's twice as difficult to normalize the national economy after such regime is thrown down. The proof for this is Serbia. More than 2 years after Milosevic was defeated and more than 18 months after his forced transfer to The Hague, Serbia still can't find its true face of a political democracy and of economically prosperous society. The recent political events there show that the general situation could become even more complicated. That in turn could facilitate the task of those who want to follow into the Milosevic steps. Looking back to the history of Central and Eastern Europe following the fall of communisms in 1989, it's obvious that Serbia couldn't escape the mistakes that have been done in the other post-communist societies. On the one hand, the fact that the new generation of politicians is unprepared to manage and reform their country can hardly be compensated with some western financial aid and advises. On the other hand, the former secret police can still influence the public opinion through the media and thus destabilize the new regime. To get rid of these old regime's remnants, it would take not months but years, maybe more than a decade. The worst scenario for countries like Serbia is the disillusionment that can follow the fall of the authoritarian regime. Life isn't getting better; some of the new politicians are as corrupted as the old ones; the hardship for the ordinary people remains. The temptation to give again a chance to the old political guard is growing. When this temptation occurs in the neighboring Bulgaria or Romania, mainly the local population feels the negative results. If this happens in Serbia, if Milosevic henchmen take again the power, the repercussions would be felt far beyond the borders of Serbia.
Economic bases are presentSpeaking dollars and sq.feet, Serbian real estate market isn't that bad and promises better rewards for those who dare to invest there. The prices in the capital city of Belgrade are situated between $400 and $600/sq.meter. For the rest of the country the prices go down to reach between $150 and $400. Even the luxury apartments in Belgrade are sold below $1000/sq.meter. These prices are still far below the levels in Central and Western Europe, promising good rewards for investors in mid-term if the general political and international environment remains stable.The Yugoslav laws also provide foreign individuals and legal entities with some essential rights to buy real estate under certain conditions. One of these conditions is that buyers conduct their business affairs within Yugoslavia. Another condition is that it should be a reciprocal investment protection agreement between this country and the country of the foreign investor. If the buyer is a business, the real estate has to be used for this business. Foreign individuals and legal entities may not acquire real estate rights in certain areas of Yugoslavia. It's possible for the foreign investors to sell their properties to Yugoslav individuals as well as to other foreign investors entitled to buy a property in the country.
Political stability is still aheadYugoslavia like many other post-communism countries faces the difficult task of attracting enough foreign investment while its political system is still shaking. During the last months three presidential polls failed because the turnout did not reach the required 50%. Two of these polls were in Serbia and one in Montenegro. The tensions between the two republics are again going to a level of constitutional crisis. The socialist and radical nationalist opposition in Belgrade, people linked with the old regime of Milosevic, are pushing for new elections. The West, preoccupied with Iraq, North Korea, and the terrorist threats, can't pay much attention to this new danger.The economic prosperity in Serbia and Yugoslavia depends on the stability of the democratic processes there. With the political institutions working properly, and with no danger of political restoration, the country could offer much to the foreign investors.
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