Central and Eastern Europe property boom
A new internet resource has launched with the aim of bringing modern marketing techniques and transparency to the Central and Eastern European (CEE) property investment market.
InvestmentPropertySearch.net is the result of two years research and the development of a CEE wide network of contacts by London based Chartered Surveyor Hayden Bean.
The website lists property investment opportunities above €500,000 with no upper limit, providing full address, photographs, plans and yields.
‘Two years ago I was working extensively in CEE and experienced frustrating problems carrying out valuations. There was a real need for a central source of property data suitable for use by investment committees, analysts, evaluators, compliance departments and auditors so we set about developing a commercial property network with the most comprehensive database of properties for sale in CEE,’ said Hayden Bean.
‘We launched the site in Beta format at MIPIM in Cannes earlier this month and
received a great deal of positive feedback from both investors and developers, many of whom were experiencing the same problems in CEE that I encountered two years ago,’ he added.
The website is accessible to members only and membership is strictly by invitation or request. Membership is free with upgrade options available and is confined to investors.
Agents, government agencies and developers are able to post their properties, development opportunities or investment requirements provided they are of €500,000 plus value and are accompanied by full details for potential investors to view.
An investor-to-investor database allows investors to sell or trade properties and to enter into joint ventures. In all cases, the investor remains anonymous until they choose to reveal their identity.
‘There is a tradition of non-transparency in CEE commercial property markets. Investors, agents, Government agencies and developers tend to rely upon their network of personal contacts which can make it difficult for a new investor to gain the necessary market intelligence, or for a vendor to reach serious investors,’ said Bean.
‘This culture is slowly changing as CEE based property professionals realise that there is growing interest in their opportunities but no conduit to reach them. Investment Property Search will help open up new markets by assuring investors of accurate data and by assuring vendors and developers that only serious investors will be viewing their properties,’ he added.
The website features sections focussing upon commercial property investment opportunities, the investor to investor database, Government properties, distressed properties, off-market requests and funding requirements or partnerships. All sections may be searched by specific country, property type, value and yield, size or rental rate.