The Polish premiere of the report took place on 5 December 2019. The programme included:

• Presentation of the results of the Emerging Trends in Real Estate® Europe 2020 by ANDREA CARPENTER, ULI Europe Consultant, Director of Women Talk Real Estate
• Economic and market perspectives for Poland by PHILIP LAWLOR, Managing Director Global Markets Research, FTSE Russell
• Panel discussion on the findings of the report consisting of the above speakers and ROBERT DOBRZYCKI, CEO of Panattoni Europe, PETER NOACK, Co-founder & MD of Zeitgeist Asset Management, and ADAM JĘDRZEJEWSKI, CEO & Founder of Mobile City Association. The discussion was moderated by KINGA BARCHON, Partner of PwC

Now in its 17th edition, the Emerging Trends in Real Estate® Europe 2020 report prepared by PwC and the Urban Land Institute is based on insights from over 900 real estate industry professionals, including investors, developers, financial experts and consultants. More than two-thirds of them found rising construction costs to be the greatest challenge in the coming year. 81% of survey respondents named international political instability among key risks at the macroeconomic level. Nearly 60% are also concerned about the political situation in specific countries, e.g. the United Kingdom and Germany.

Furthermore, more than two-thirds of survey respondents stressed the environmental risks involved in their business growth as well as mounting pressure from institutional investors to implement relevant initiatives in this regard. Also evident is a growing awareness of climate change risks, with already almost half of the respondents claiming that climate change has become a greater risk within their portfolio, and 73% expecting that risk to become greater over the next five years.

The most promising cities in Europe

This year’s rankings of the top-rated places to invest capital in reflect investors’ relative caution and focus on stable and mature markets. Paris took the top spot, with experts believing the city is growing in importance not only because some companies plan to relocate ahead of Brexit but also thanks to the Summer Olympics set to take place in the French capital in 2024 as well as a comprehensive urban development project known as “The Grand Paris”. Political and economic headwinds notwithstanding, the list still includes the largest German and British cities. Similarly, supply and demand dynamics make cities such as Amsterdam and Madrid highly-rated picks.

Under new assessment rules, which offer a more reliable comparison between markets of varying size and liquidity, Warsaw came in 14th, higher than any other cities outside Western Europe listed in the rankings. Warsaw’s office and logistics properties are especially valued.

The boundaries between traditional and alternative real estate are being blurred

Logistics properties once again top the rankings for the most popular assets in Europe, with demand driven by the dynamic growth in e-commerce. As many as six out of ten spots on the list were taken by buildings that meet the residential needs of various generations of users. Notably, special attention in the commercial sector is given to schemes that may evolve towards mixed-use projects, especially in downtown districts.

Smart solutions and mobility

About 80% of ULI and PwC survey respondents named the broadly defined transport infrastructure, including mobile solutions, as the key factor that determines the potential of a given location in investment decision making. Rental services for bicycles, scooters and electric vehicles not only change the traditional model of how cities and their transport networks are planned but also are perceived as elements that boost the appeal and expand the functions of specific projects.