Growing divergence across Emerging European property markets

The upbeat message on Poland from yesterday’s Q1 2010 RICS global survey broadly fits with our view that Polish property will be among the best performers in Europe this year. But we are less convinced by the apparent resurgence of confidence in the Russian market or the relatively poor performance of Turkey. That said, in the wake of the Greek financial crisis, we agree that commercial property performance across Emerging Europe could become increasingly divergent in the near-term.