The office property sector in eastern and central Europe has boomed since 2000.
In Budapest take-up rates rose by 12% in one year, although vacancy rates remained high at 21%, while Prague saw occupation rise by 19% and availability fall from 16.5% to 11.5%.
The take-up rate in Warsaw reached an all time high of 225,000m2.
Further east, the Romanian capital is the centre of a new wave of expansion. Interest has been shown by several Belgian companies, such as Liebrecht & Wood in a market that has become more stable. Availability has increased and prices now stand at €362 (BFr14,600) per m2.
Kiev and Moscow have been reaping the benefits of an upturn in the Ukrainian economy and Russia’s increase oil revenues.
L’Echo, 04 May 2001 p15
