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 CEE mortgage boost
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Monday, April 28, 2008 |
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Buying property in Eastern Europe will become easier over the next few years…
Western banks which have recently entered the Central and Eastern European (CEE) mortgage markets have predicted 30% growth per annum over the next three years, according to new research from Savills.
To capitalize on this, Savills has opened a new residential business in Poland, focusing on high end residential sales.
Brian Burgess of Savills commented: “The concept of purchasing of top-end homes as completed buildings is still relatively new in Poland. Previously for example, owners would have preferred to build properties themselves.
“We have seen developers active in other sectors of the residential market, together with some pre-purchase activity from investors and syndicates. Times have moved on and the more wealthy occupier wants to ‘buy-up’ the chain leading to greater demand for the larger, higher-value homes.“
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