Analogies can be misleading, but this one might be useful for some: probably most Europeans have heard such weather forecasts that predict quite pleasant conditions... but with one slight caveat: “At night the temperature could drop below zero at ground level.” The situation is the exact opposite on the CEE real estate markets – although what is happening is not exclusive to this part of the continent. The data here is actually off the scale at ground level. It is hot, but the ‘perceived temperature’ for each country and even for their individual regions is different
A very mixed bag
Office markets in Central Europe have never behaved in the same way. Bearing this in mind, all of these countries are still benefiting from the boom generated by low interest rates.
Warsaw, for example, is experiencing a second flush of youth and is surprisingly looking more attractive as it grows older. Despite all the recent political turmoil, the economy is growing, and