AN ANALYSIS OF THE CURRENT STATE, CHALLENGES AND PREVENTION OF UNLAWFUL ACTIVITIES IN THE REAL ESTATE SECTOR IN THE REPUBLIC OF SERBIA
AN ANALYSIS OF THE CURRENT STATE, CHALLENGES AND PREVENTION OF UNLAWFUL ACTIVITIES IN THE REAL ESTATE SECTOR IN THE REPUBLIC OF SERBIA

Summary/Abstract: The real estate market in the Republic of Serbia represents one of the key segments of the economic system, while at the same time constituting an area characterised by significant challenges and an increased risk of various forms of unlawful activities. The high value of transactions, complex property-law relations, insufficient transparency, and the pronounced role of institutional actors make the real estate sector particularly susceptible to phenomena such as real estate fraud, money laundering, illegal construction, abuse of contractual relations, and environmental crime related to construction and demolition activities. The aim of this paper is to analyse, in a comprehensive and systematic manner, the current state, identify and systematise key challenges in the real estate sector in the Republic of Serbia from the perspective of preventing unlawful activities, relying on the analysis of the macroeconomic, institutional, and regulatory environment. Based on publicly available data from relevant international and domestic institutions, the paper places special emphasis on the analysis of risks, weaknesses, and threats that may generate or facilitate unlawful activities, while also highlighting the role of international institutional indicators as meta-signals shaping foreign investors’ risk perceptions and investment decisions towards real estate sector in the Republic of Serbia. In this context, prevention mechanisms, the role of competent institutions at various levels of government, and relevant legislative frameworks are examined and discussed in detail. This paper contributes to a more comprehensive understanding of the potential connection between the real estate market and unlawful activities, emphasising the importance of a preventive approach that includes strengthening mechanisms and institutional coordination, improving legal certainty, and applying modern technological solutions in order to reduce risks and enhance the integrity of the real estate market in the Republic of Serbia.

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