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Thank you for your interest -I would recomed coutry of Serbia as most prominent oportunity in the region -there is few reasons for that - first and foremost is that the country itself is still ''virgin'' teritory unspoiled by investors from EU or USA ( very few came in the last 10 years or so) -due to political sins from 90s country was considered to be some sort of pariah in the region and all the ''good '' investments where passed to its ''neighbours'' (Romania,Bulgaria ,Slovenia and Hungary in particular-today all of them are members of EU)-Belgrade as a capital of the country althrough most vibrant of all the capital cities in the region was sidetracked for almost 2 decades but its on rebound -excellent geo-strategic position is main contributor to that revival .Now about business oportunities in Serbia -I would put construction on the first place -for very simple rason that almost 70 000 housing units are needed just in capital of the country alone (this is by far very conservative estimate ) ,prices are going up all the time not afected by the economic crisis in the world -even this year average -median housing price will go up for at least 10 % compared to last year .Financing : bank loans are virtualy unknown as a method of financing -most buyers prefer" hard cash on the table'' aproach -this is due to inherited distrust of the banks in general which has a long and painful history in the whole of the region -(its not related to current economic afairs in the world ).ROI is gurenteed by the simple difference between the costs of construction and the final sale price of the square meter of newly constructed property - expense is around 750 euros (price and estimates are given in euros ) per square meter including taxes and projects and construction costs (labour and material) - and the average sale price is around 1300 euros -of course there are more desirable part of the city where the properties are sold for as much as 4500 euros per square meter and also some popular parts of the town which are close to good schools and shopping malls and infrastructure where young professionals preffer to live where prices '' hoover'' around 2000- 3000 euros per square meter .note that the cost of constrcution is always the same with some variation related to taxes (different boroughs might charge about 20% more in taxes on account of exclusivity )-then there is a super exclusive part of the city where anything goes and prices are not limited (average house could fetch as much as 10 millions in euros ).This is just a rough outlook for one capital city -in the region -Belgrade (Serbia) but I would be all to happy to inform you about any other country in that region .Its worth to consider that lots of Serbians are living in USA -Chicago is actualy second biggest Serbian city outside of Serbia and main economic strenght of that country actualy lays within ex-pat comunity which is sending substantial amounts of money back to Serbia .Lots of those immigrants have properties or land in Serbia which they would be willing to sell on a cheap if the oportunity present itself -considering prices of the properties in Serbia tracking those kind of properties could be also very lucrative investment oportunity-providing that the buyer has right infirmations and estimates from reliable source in Serbia itself -