Cooler but still warm

The SUN CONTINUES TO SHINE ON the real estate MARKETS OF Central and Eastern Europe – ALTHOUGH The TOTAL value of finalized contracts WILL NOT ACHIEVE THE LEVELS OF 2006. this, paradoxically, is also a good sign It was the credit crunch in the USA that had the most significant impact on the situation on the investment market in the region in 2007. The shockwave is being felt most painfully in Europe, especially in the UK where virtually the entire investment market was put on hold in August, with transactions that were about to be completed having to be renegotiated. In this part of Europe investors have been approaching purchases with greater care, while banks have been taking a closer look at lending possibilities, changing the structure and costs of real estate financing. But, surprisingly, the impact of these events should not necessarily have a damaging effect on our region.Wojciech Pisz of Cushman & Wakefield is convinced that Central European investments are both prof