TPA at MIPIM 2018
As every year, the TPA team participated in MIPIM 2018, the world’s leading property market fair in Cannes, France. As a group consisting of colleagues from Austria, the Czech Republic and Poland, we used the opportunity to meet our clients from the real estate industry in the pleasant atmosphere of spring in the Cote d’Azur.
From talks with real estate professionals, we learned that the Central European region, and in particular Austria, Poland and the Czech Republic, remain in the focus of international real estate investors. Beside these countries, our clients are showing increasing interest in investments in Hungary and Romania.
With record transaction volume and high yields, the Central European region seems to be showing similar development to that of other mature European real estate markets. The expectation of future development is generally good and real estate investments are likely to remain attractive as interest rates are expected to remain low. Some complaints arose about real estate prices in Prague, with some investors claiming the yields are relatively high. When speaking off the record, some participants fear that a market reduction might be forthcoming, but no one dares to predict when… Well, not yet, we hope…