2010 will see increase in polish property investments
News Posted On: 21 January 2010
Polish property is expected to be very popular with investors in 2010, as the economy avoided recession and has some solid growth prospects according to analysts. Investment fund MGPA put its money where its mouth is on Poland's potential with a $235m investment in 2 shopping malls, and an option on a 3rd. The deal was paid for by the fund's 3rd European Fund, and is about a quarter of that fund's $841.5m buying power.
"In our view, [Poland] continues to offer superior growth prospects. Even though the markets were very volatile over the past 12 months the Polish economy avoided recession and has a solid basis for future growth," said Alex Jeffrey, MGPA's chief executive for Europe from his base of operations in the UK.
Poland lost its sheen with private investors when prices escalated rapidly and new markets like Bulgaria, then Albania looked like having the biggest potential for growth. While Albania has also avoided recession, and property investments still look good, Bulgaria has suffered heavily and many of the people who own investment property in Bulgaria are looking to sell.
Now that Poland has proven itself as a stable and strong growth market, private investors are expected to start looking at properties in the coming months. Unfortunately there is a great irony standing in Poland's way: because of the crash leaving so many out of pocket, overseas property investment is currently very weak, whilst lifestyle buyers have proven quick to return for the bargains -- irony is that now, when investors could really get properties with real growth potential they are staying at home.
This however is expected to change as confidence grows in the recovery, analysts think private property investment will start to grow in the second half of this year.
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