A brief view: Tweddle's CEE Market Updates
20th October 2010
As you may have found out for yourself, over the last year the markets in Central & Eastern Europe remain sluggish and in my view will continue to be so in the near term. At least, for example, in the UK where sales are not exactly brisk rental yields and rental demand on the whole are quite healthy. Unfortunately in Central & Eastern Europe neither sales nor rentals are particularly hot at the moment.
The biggest problem still remains too much supply for the current demand. The second important factor is the continued restrictions in credit availability.
In the Czech Republic the market has just about found its bottom and will probably continue along the bottom well into 2011. Luckily interest rates are still very low and if this were to change to could severely hurt the market.
In Poland property prices, in the main, have continued to soften and supply remains a big issue. Whilst the medium term outlook has the potential to be rosy in Poland, short term things could be better.
Slovakia has a history of good growth quickly followed by overbuilding and stagnation. I don t see much positive change in the market for the time being.
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