New and prospective EU countries are reportedly enjoying solid occupier market activity, with the vast majority of the commercial property markets performing well.
The latest Global Property Survey from the Royal Institution of Chartered Surveyors (Rics) has found that Hungary and Morocco in particular are benefiting from rising economic growth as well as lower inflation. Demand for commercial property is rising steadily in the countries, with interest rate reductions in the last couple of years encouraging high levels of investment.
Turkey is also performing admirably in the commercial property sector, with occupier demand increasing rapidly and rents also starting to soar. Rics has found that EU entry has had a staggering effect on the property markets in Warsaw, Budapest and Prague, with foreign investors now competing vigorously for limited available product. While all three cities are also popular with residential property investors, it is clear that the commercial sector is growing significantly, as investors look to diversify their portfolios.
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