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News Release

Bucharest, Budapest, Prague, Warsaw and Zagreb

The CEE is in Recovery Mode

Jones Lang LaSalle issues CEE City Reports for Q4 2010

Bucharest, Budapest, Prague, Warsaw and Zagreb, 8th February 2011 - Jones Lang LaSalle presents the latest edition of its quarterly market reports - CEE City Reports Q4 2010. The CEE City Reports cover the main trends in the economy and demand and supply in the investment, office, retail, industrial, hotel and residential markets. The new edition highlights the continued stabilization and recovery of both the occupier and investment markets.

John Duckworth, Managing Director of Jones Lang LaSalle in CEE comments: "The CEE commercial real estate market is now in recovery mode although there are widely differing speeds of recovery depending on where you look. With more than EUR 280 million transacted throughout 2010 in Croatia, this market demonstrated some initial signs of recovery and increasing levels of interest from investors. Hungary is still experiencing some uncertainty. Whilst the economy starts to show signs of repair, corporates and investors are demonstrating some caution over the political backdrop. This is a distraction and is unfortunate as market and economic fundamentals and longer team prospects do offer some excellent opportunities for experienced players. Romania is still fragile but the recovery may be a surprise in 2011/12 and confirm a view that certain markets can re-emerge as rapidly as they can decelerate. Again for the right investor and smart vendor, Romania could prove to be a rewarding market this year and beyond".

Duckworth further comments: "The Czech and Slovak markets are proving their resilience and maturity as they emerge from the difficult 09/10 period. We are seeing more activity in Q1 of 2011 than for the whole of the previous 2 years and investors seem to be increasingly convinced by the current cycle. Finally Poland continues at a confident pace in the region. Underlying fundamentals and growing corporate activity, mean that vendors and buyers are able to transact in a market that stacks up well when compared to many European alternatives. The only issue is that product is limited, but that in itself is stimulating new development and financing opportunities. Poland's relatively advanced position in the cycle underlines the increasing maturity of the market and is demonstrating leadership in the region as a whole".