Hungarians, Chinese and Czechs spent more than €2 bln on real estate in Poland
22:37
Since the beginning of the year, investors have spent €4 billion on commercial real estate in Poland. More than half of the capital came to us from Hungary, China, and the Czech Republic, and one fifth from the USA, France, and Germany, according to the CBRE report. The company's experts indicate that from quarter to quarter there is a decrease in the value of turnover on the market, which was expected in the prevailing pandemic conditions. In the first months of the year, the value of transactions reached €1.7 billion, and in the period July-September it dropped to €1.1 billion.
“The investment volume in the third quarter fell by as much as 39 percent y/y, but compared to the five-year average, the loss is only 10 percent. In the period of July-September, we have to take into account the effect of the delayed rebuilding of investor confidence. Although the second quarter was the most difficult economically, the next one was burdened with uncertainty as to the improvement in economic indicators. We know from economic theory that while increased risk may affect the value of individual investments, it primarily affects the number of projects undertaken. In the first three quarters of this year, there were 83 of them, compared to 96 a year ago. Only when the good economic conditions in the third quarter convince investors, will we be able to see a return to high investment values at the end of the year,'' Sean Doyle, head of CBRE's investment property department at Central and Eastern Europe, said.
As much as 22 percent o capital was invested by Hungarians, second place is taken by the Chinese who are responsible for one-fifth of the investment pie, and 10 percent of the capital is invested in Poland by our Czech neighbors. It is followed by the Americans (8 percent), Germany (6 percent), and the French (5 percent). Investors whose origin cannot be fully established are responsible for 29 percent of the capital, but it is worth noting that investments from Europe account for more than half of the total.
(WBJ)
