Along with France, Germany and the UK, Poland attracted many foreign investors during the first half of the year, according to the latest report by CBRE. The overall transaction volume for 2012, however, is not to be very impressive, with most deals not surpassing €2.5bn.
Although commercial property investments fell as much as 60 percent in Central and Eastern Europe in the first six months of the year, according to CBRE, Poland saw deals reaching €845m during this period. Prospects for the coming months, however, remain uncertain, due to the continued instability in the eurozone. CEE markets are expected to be the hardest hit.
“Continuing eurozone uncertainty combined with an almost pure investor focus on core product has caused market activity to contract in a similar way to that seen in 2009/2010. With the issues in the eurozone unlikely to be resolved soon, the negative spin-off this turbulence has on banks is therefore likely to prevail for longer. A consequence for real estate markets will be that the available amount of capital to be invested in real estate across CEE will remain lower than the market has previously been used to,” said Jos Tromp, head of CEE Research and Consultancy at CBRE.
