Central and Eastern Europe attracted EUR 1.5 billion in property investment in the third quarter of this year, a survey by CB Richard Ellis has found. This is the largest growth in Europe at this time. Compared to the previous quarter, the growth is approximately 60 percent, while against the same period of 2009 it is 119 percent.
The growth was driven mostly by an increase in confidence in the Polish market, where more than half of the CEE investment – EUR 826 million – went. “Poland was the only European market that had managed to avoid recession, and at the beginning of the year prices did not reflect the fact that Poland is currently an important market for many investors,” said Jonathan Hull, head of EMEA Capital Markets with CBRE.
Overall Europe attracted EUR 23.1 billion in investment in Q3, slightly lower than the EUR 24.6 billion invested in Q3 of 2009.