Briefs

Ober Haus report on Warsaw's residential market for first half of 2003 Real estate brokers Ober Haus have published a report entitled, "East European Residential Update, Spring/Summer 2003", which as well as for the markets in the Baltic States, has also produced findings from Warsaw.The highlights of the report, include that as far as the Polish capital is concerned, lower interest rates, a mild recovery and the threat of increased VAT on real estate purchases, have stimulated property buying during the period. That the average price of an apartment in the city centre is currently EUR 1,600 per sqm, 10,000 units are expected to be completed in the city this year and that mortgage rates have decreased from 25 per cent four years ago, to under 7 per cent now, are other features of the study. Decline in demand for luxury apartments BOSS Business News Poland have reported a decline in the demand for luxury apartments in Poland, but also that this sector of the housing market