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Friendly, warm, and more than a little curious about foreigners – this is how Wikipedia describes Central and Eastern Europe. These are also the features that together with economic advantages make the region one of the most successful in attracting international investors. The whole region has almost 100 million inhabitants with a growing share of immigrants from neighbouring eastern countries.
Despite the issues with prices and availability of construction materials, we have been recording the highest level of warehouse space in history for several quarters, out of which approximately half is not secured with lease agreements. In the first quarter alone, 1.2 million sq m of new projects were started.
The year 2022 began with a clear weakening of demand in the residential market. Only 3,307 developer flats were sold in Warsaw, the lowest figure since Q2 2020 (the quarter hardest hit by the effects of the pandemic). By comparison, the average for quarterly sales on the market in the past five years was 5,427 flats.
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