Belgrade

Im looking at some development options in belgrade, so Im looking for some feedback from any experienced investors there
Obviously there are political issues there, my serbian contacts assure me however that while kosovo will become independent, there will be no more war in the region; it looks that way to me also, nothing is certain however.

I have read a couple of different reports describing the economic growth recently, and capital appreciation in real estate and it all looks good. while the rental market isnt increasing massively, incomes rose 35% last year according to the National Statistics office in serbia.
There is an area called new belgrade which seems to be the most desirable at the moment
The same source states in the first half of this year the amount of mortgages doubled then what was given in the whole of last year

According to Colliers most development is mid quality units, where the yield is around 4-5%, luxury units are fetching 6-7% yield. inflation is at 5.8% though
Its likely by going in at government level and obtaining endorsement various incentives could be arranged for buyers, ie. vat free, cut the transfer tax.
I would be thinking of high end luxury apts.

Any negatives you could throw at me would be welcome

GDE, where, indeed. At present it's not overly advisable to be looking to invest too heavily in Serbia, it'd be better to wait until the summer, if you're serious about it, as despite good returns etc, it's a relatively volatile country and once you begin to dip our toes you'll find a large number of hands out. It's at all levels of business there and despite being pushed towards the EU, it's not going to change anytime soon.

ps I'm basing the comments on visits, business and work in Serbia and Belgrade, and also on local friends working and living there.