News

CB Richard Ellis prepared new CEE Property Investment MarketView as of March 2010. According to the report, CEE property investment market was down in first two months of 2010, with a provisional €275 million in 15 transactions traded in January and February 2010. Despite the dip in activity, turnover so far in 2010 is running ca. 70% ahead of two month average H1 2009 turnover. Additionally, the amount of product currently under negotiation suggests that the CEE investment market has maintained much of its momentum from late 2009. The report showed that investors continue to target core CE markets. Institutional investors continue to focus primarily on Central European (CE) capital city markets, which are perceived to offer reasonable income security. In fact, more investors are now classifying Poland and the Czech Republic as core markets to which they allocate funds, suggesting that these countries are overcoming the traditional east west divide in Europe. Meanwhile, a mix of international and local investors are targeting Moscow with its more opportunistic profile. Just under 90% of turnover so far in 2010 has occurred in Warsaw, Budapest, Prague and Moscow. It is expected that CEE markets and Moscow will remain the most active markets in 2010. You can get an electronic copy of the report upon sending request to scotholland@cbre.kz.