CEE matures as capital changes direction

Eurobuild CEE: If you had to identify the three forces now shaping the real estate market in Poland and across the CEE region, what would they be? What has changed most compared with two or three years ago? Tomasz Stasiak, Wolff Theiss: The most important trend is the relatively limited interest in the region from institutional investors in Western Europe and the US. This has created attractive opportunities for regional and local capital. At the same time, persistent inflation and expectations surrounding ECB interest rates are supporting value-add transactions, particularly projects involving a change of use, such as converting office buildings into PRS developments. Grzegorz Skowroński, Wolff Theiss: We are seeing growing interest from investors across Central and Eastern Europe, especially from the Czech Republic, Hungary and the Baltic states. At the same time, activity from Western European investors has declined, although there are encouraging signs of its return – French f