Home sales in Poland are booming, said Aleksandra Galabuda, a consultant with REAS Residential Advisors in Warsaw.
In the country’s six main residential markets, including the tri-city area, the number of sales has been increasing by about 20 percent year over year since 2013, she said. That increase, agents said, can be attributed in part to low interest rates, declining unemployment and rising wages.
In Gdansk, an average of 2,000 homes were sold each quarter in the last 18 months, compared to 1,400 a quarter in 2015 and 1,200 in 2014, Ms. Galabuda said.
Frankfurt and Brussels are emerging as tempting alternatives to London as European financial hubs in part because they have cheaper accommodation costs than Paris.
Poland’s housing market is still developing; prices are lower than in other European countries for comparable properties and the inventory is smaller, people working in the real estate market there said. As the Polish economy performs well, a wealthier population has been increasing demand for luxury homes in Warsaw and in other cities and resort areas.
Commercial real estate investment remained strong across Europe in the second quarter of 2016 totalling €54.0 billion, up 2.5% on the previous quarter and 30.4% on the 10 year average, new research shows.
However, overall activity fell short compared to the second quarter of 2015 with the office sector having the strongest quarter, seeing an 8.3% increase on the first three months of 2016, driven by a particularly strong performance in the Nordic region.
The research from CBRE also points out that despite uncertainty in the UK caused by the European Union referendum, sentiment remained strong in other European markets and investment levels were stable year on year.
Total investment volume into European commercial real estate in the first quarter of 2016 reached €36.8 billion, some 30% lower than the same period last year, the latest research shows.
However, several European countries analysed in the report from international real estate firm Savills are seeing increasing investment activity this year. Italy with growth of 54%, Sweden up 33%, Poland up 15%, the Benelux countries up 12% and Finland up 479%, have all performed well. The report says that the data shows that investor appetite is healthy for quality assets in markets with strong fundamentals.
In terms of sectors, industrial has gained ground, increasing by around 19% year on year. This was driven mainly by transactions in the logistics and distribution sector in the UK, Germany, Sweden, Spain and the Netherlands, which accounted for more than 80% of the total activity.
The level of investment into European commercial real estate continues to grow with €62 billion invested in the third quarter of 2015, up 18% on the same period in 2014.
France experienced the most noteworthy increase with investment activity of over €7 billion, almost double that of the same quarter in 2014, according to figures from CBRE.
Farmland in Europe: Prices and players from east to west
Commercial property investment activity in Europe reached its highest level since 2007, totalling €102.5 billion in the first half of 2015, the latest market analysis report shows.
The investment volume across the 16 participating countries was 25% up on the same period last year, according to the European Investment Briefing report from international real estate advisor Savills.
Opt in here