Black swans and cycles

Small talk
Piotr Trzciński, the Poland, head of Savills Investment Management, gives us the investors' view of how we have coped with a year of unpleasant surprises and how things look like settling down again this year
What kind of animal do you think would symbolise the previous year for the investment market? Piotr Trzciński, head of Poland, Savills Investment Management: It would definitely be a black swan and not just one. The outbreak of the war in Ukraine and the uncertainty this generated, of course, had the biggest impact on the market – due to the influx of refugees and the dynamics of the conflict over the border, investor scepticism towards the CEE region and Poland began to grow. Many transactions were halted in our region, previously considered to be relatively safe and predictable, in order to wait and see what would happen. On top of that, there were the huge interest rates hikes due to the soaring inflation, along with the prospect of falling valuations and signs of an approaching economic slowdown. Eventually, it turned out that the war, for the time being, was not having a direct impact on asset security, once the risks of the Ukrainian conflict were evaluated. However, the
Already have an account? Log in
80% of content remaining
Unlock full access to the edition
PLN
EUR
EurobuildCEE magazine
Access to EurobuildCEE edition online & flipbook
Current edition
Annual subscription
You save 23% when paying annually
Monthly on one device. Annual payment
Monthly on one device. Monthly payment
Choose
Access includes
  • Access to EurobuildCEE magazine edition online & flipbook version
Most popular
EurobuildCEE magazine & online subscription
Access to all EurobuildCEE materials
Monthly
Annually
You save 17% when paying annually
Monthly on one device. Annual payment
Monthly on one device. Monthly payment
Choose
Access includes
  • Access to EurobuildCEE magazine edition online & flipbook version
  • Exclusive news, comments, articles and interviews with the most important market representatives and experts
  • Archive containing data and information from the commercial real estate and construction market in Poland and the CEE region, collected over 27 years;
  • Eurojobs
  • Eurobuild FM

Categories

Your order
Your data
Number of access accounts
Each account provides independent access on one device. You will be able to create additional access accounts in the account settings.
Invoicing data
Order summary
Net price
Access accounts #
Net order
VAT (%)
Gross order
Payment security is ensured

Don`t miss out the current edition