The future of cities is in the hands of today’s urban planners and real estate developers. Their decision will determine how an urban area can perform on an increasingly competitive global scene. Creating a city that attracts innovators and investors is in everybody’s interest, but all must be done in a smart, sustainable and responsible way. We report from Bucharest where Portfolio Conferences and RICS have organised SEE Property Forum for the second time.

Major cities of Southeastern Europe have had to face many challenges: wars, earthquakes and the drastic redevelopments of the socialist era. Today, they are trying to rebuild themselves and become modern, European capitals. We look at three countries, three capitals – and three very different plans for city developments. 

The fact that Budapest is competing for the right to host the 2024 Summer Olympics and Paralympics has now Been decided, as the capital submitted the initial application materials in the middle of February. The next big question is, will the choice of the International Olympic Committee (IOC) really fall on Budapest, and if so, will the city manage to prepare for the games in time and in a sustainable manner.

According to the latest RICS Commercial Property Monitor, occupier and investment sentiment continues to be broadly positive in Central and Eastern Europe for Q1 2016. Sentiment in both the Occupier and Investment markets registered a positive value across Bulgaria, the Czech Republic, Hungary and Romania. At the same time RICS has published its Croatia Commercial Property Monitor for the first time.

RICS organised its first annual conference in Bratislava, Slovakia on 5 May. The half-day event focused on the role of international standards in emerging markets and on the Slovakian property market itself.

According to Colliers International's latest market research the Croatian real estate market experienced several significant investments in the retail, office and hotel and hospitality sectors in 2015. While the retail and office segments are experiencing upward pressure on rental prices, the industrial market, despite being the least developed sector, saw increased activity.

According to CBRE’s ‘CEE Market Outlook’ 2016 is set to be a solid year on the back of an exceptional 2015 which saw records broken in almost every real estate sector. Growth will be a key theme in the region in 2016 as economic recovery happens at a quicker pace than in Western European countries.

According to the RICS Commercial Property Monitor for Q4 2015 most countries in Central and Eastern Europe can expect relatively strong economic growth and remarkable improvements in their commercial property markets. Both, the Occupier Sentiment Index (OSI) and the Investment Sentiment Index (ISI) registered a positive value across all sectors in Bulgaria, the Czech Republic, Hungary and Romania.

Which one is the most attractive capital in the region in terms of property investment and development? When will Budapest enter the phase of yield compression and how quickly are yields expected to drop? Which products spark the imagination of investors? These are some of the questions answered by the participants of the 11th Portfolio Property Investment Forum conference.

Barbora Dermekova MRICS, Valuer at JLL became the first recipient of the Chris Bennett Memorial Prize. The award was handed out at the Portfolio Property Investment Forum conference in Budapest, where the activity of several big players of the Hungarian property market was also acknowledged.