Real estate a sound bet
The real estate market will continue to exercise a major attraction to foreign investors as Poland prepares for accession to the European Union, according to market experts Knight Frank Nieruchomoci. This positive message flavoured the firm's annual gathering with 150 market makers in Warsaw: property will remain a safe investment, despite the fact that the capital currently has the highest vacancy rate of office space in the whole of Europe: 16.9%, while the safe European average is 7%-8%.
This is connected with the fact that average prime rent for office space in Warsaw is still on quite a high level of €28 per square metre, while Prague offices cost €21 and Budapest €18. The rent in Warsaw is likely to decrease, but not significantly.
According to an Economist Intelligence Unit prognosis, Poland will continue to attract the largest share of FDI, which will be €6.8 billion a year on average up to 2005. Real estate investments in Warsaw reached €400 million in the second half of this year and outperformed any other capital city in the region.
The real estate industry in Poland and other Central and Eastern European countries has excellent opportunities in 2003, according to David Brunelle from Knight Frank's International Research and Consulting. Large German public funds are going to be active investors on this market since they are looking for risk-adverse markets offering moderate returns and stability in light of Germany's economic stagnation.
More real estate stories in Lokale.
This is connected with the fact that average prime rent for office space in Warsaw is still on quite a high level of €28 per square metre, while Prague offices cost €21 and Budapest €18. The rent in Warsaw is likely to decrease, but not significantly.
According to an Economist Intelligence Unit prognosis, Poland will continue to attract the largest share of FDI, which will be €6.8 billion a year on average up to 2005. Real estate investments in Warsaw reached €400 million in the second half of this year and outperformed any other capital city in the region.
The real estate industry in Poland and other Central and Eastern European countries has excellent opportunities in 2003, according to David Brunelle from Knight Frank's International Research and Consulting. Large German public funds are going to be active investors on this market since they are looking for risk-adverse markets offering moderate returns and stability in light of Germany's economic stagnation.
More real estate stories in Lokale.
