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Room for growth: Two decades after CEE countries joined the EU, the region’s industrial and logistics market remains poised for expansion
Two decades ago, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia and Slovenia joined the European Union.
Since joining the single trading bloc in 2004, these countries, which comprise most of central and eastern Europe (CEE), have enjoyed rocketing economic growth, which shows no signs of stopping. The International Monetary Fund (IMF) forecasts that CEE growth will be nearly triple that of western Europe’s economic growth in the coming years. As a result, CEE markets present an exceptional opportunity for commercial real estate investors, but especially those in the industrial and logistics sector, which is being boosted by a powerful combination of economic forces and demographic trends.
Rise of the consumer
The accession of CEE countries in 2004 had a major impact on the European Union, enlarging it to become one of the world’s largest trading blocks. It also helped unlock the potential of these nations after dec
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