After the huge profits offered by Poland since its entry in the EU in 2004, the fact that Bulgaria and Romania became members on January 1st, 2007, has arisen a lot of expectations.
In fact, a few development companies have already dared to buy land and buildings in both countries anticipating the pouring of the EU funds throughout the next decade. CEMP’s Symposium will devote a session on Wednesday, April 18th to analyze the opportunities that Romania and Bulgaria offer as a new alternative to Poland, with an outstanding panel of representatives from both countries.
At the CEMP's Symposium, that takes place on 17-19 April 2007 in Warsaw, several European countries will be deeply examined by renowned professionals, such as the Chief Economic Advisor, PricewaterhouseCoopers, Witold Orlowski. In the session 'An Economic and Political Outlook on the Region. Central & Eastern Europe: A Converging Land' they will analyze what countries may be considered more attractive for real estate investment in the Central and Eastern European region.
The panelists will talk from their own direct experiences about the strengths and weaknesses of the Russian and Ukrainian markets, and the opportunities and threats facing those who venture into them.
Russia, and now the Ukraine, are two of the most important emerging property markets, with major potential for growth in all sectors to meet the needs of their rapidly modernising economies. Each country presents major opportunities for international real estate developers, investors and lenders.
The price of the housing units in Warsaw and Krakow in 2006 grew a 50% and the land price in both cities for residential use grew a 100%. Among the top Polish cities such as Wroclaw, Poznan or Tricity, the price of the housing units grew a 30% and, with respect to land, a 50%.
Obviously, this situation has meant spectacular capital gains in 2006. What is more, in the following years, Poland will receive €75 billion from the EU funds. Consequently, the questions now are the following: Is there any margin for growth? And, how long can this situation last? The answers will be revealed at CEMP’s Symposium on the morning of April 19th, where the best Polish experts in the matter will be gathered.