A game of nerves

Property owners and potential buyers in the region are playing a devilish game. The gulf between their price expectations has remained yawning, accounting – amongst other reasons – for a very gloomy first half of the year. No-one is willing to compromise, but someone will have to. Who is going to blink first?Mladen PetrovRemember the year 2006? For football fans that was the year when Italy won the FIFA World Cup in Germany. But that wasn’t really a turn-up for the books, as Italy had already won the championship three times before meeting France in the final. In that year, EUR 4.9 bln was invested on the Polish property market alone, the highest investment volume to date. Now, that’s a real record. In the wake of the global crisis, in 2008 the volume of investment activity in Poland fell by 45 pct to EUR 1.7 bln, while the Czech Rep