The Impact of Tourism on Real Estate Price Dynamics in Sarajevo

Tourist interest in visiting Sarajevo this summer was the higher than ever before, and there are many reasons for that.

The city, with its rich history, authentic culture, and way of life, makes it one of the most attractive tourist destinations. Thanks to numerous great festivals and events, Sarajevo has become one of the most desirable regional entertainment destinations.

According to the official data from the Tourist Board of Canton Sarajevo, during the festival days this year, there was an increase in the number of tourists to 33.7% compared to the same period last year. Also, the number of overnight stays has increased by 34.5%, where it reached 76.810 overnight stays. https://shorturl.at/ceqFH

The growing number of tourists directly affects the real estate market, which results with the changes in prices and demand for real estate. 

Considering the growing number of tourists visiting Sarajevo, there is an increased need for additional accomodation facilities. Therefore, many citizens decide to buy real estate, which they then renovate and rent to tourists. Property owners see this situation as an excellent opportunity to make some additional income.

Increased demand for real estate that is suitable for short-term rental is only one of the factors that influenced the rise in real estate prices in the last period. https://shorturl.at/dnoDF 

Our new construction agent, Ena Topalović-Duka has a great passion for tourism and wants to actively contribute to the development of Sarajevo as a tourist destination. 

She wrote for the academic journal of the University of Slovenia about the geographical characteristics and tourist development of the capital of Bosnia and Herzegovina. 

"Events aimed at improving the promotion of the tourist destination of Sarajevo Canton."

The purpose of the paper is to analyze event tourism in the tourist offer of the City of Sarajevo, i.e. to what extent event tourism in the tourist destination of Sarajevo Canton affects the increase or decrease in demand for the destination, and the economic and social significance of various events, current or past, for Sarajevo Canton.

You can read the full text via the link: https://shorturl.at/sEIOS 

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