‘Poland is the new Germany’

More international capital is flowing to CEE countries and the office sector continues to be investors’ favourite target, accounting for an unprecedented level of interest.

Poland is set to be the new Germany, attracting investors because of its strong economic growth but also because of its polycentric nature, Katarzyna Zawodna-Bijoch, President and CEO, CEE, Skanska Commercial Development Europe, told The Real Estate Day.

International capital has moved beyond Warsaw and is targeting Poland’s many strong regional cities.

Katarzyna Zawodna-Bijoch, President and CEO, CEE, Skanska Commercial Development Europe and Simon Wallace, Head of Research, Europe, Alternatives DWS discuss the current opportunities in the CEE Real Estate investment market with Richrd Betts, Group Publisher at Real Asset Media.
Filmed at the International Investors Lounge, EXPO REAL 2019 by Real Asset Media

‘We were the first to go into Poland’s regional cities,’ she said. ‘Back then it was a brave decision, but now no-one doubts that it was the right one. They are attracting companies because they offer such a wide pool of well-educated talent’.

The strengths of what used to be called secondary cities are now widely recognised.

‘Investors are very confident now about Poland’s regional cities, which also offer a 100-150 bps premium to what you would get in a German city,’ said Simon Wallace, Head of Research, Europe, Alternatives, DWS. 

There is plenty of life in CEE beyond Poland, Zawodna-Bijoch said: ‘As the biggest market it attracts most of the interest, but the country that offers the best opportunities now is Romania. There is great quality product, 2.5 mln m2 of modern office space and the new Government is keen on making the market more transparent. Romania is a real rising star’.

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