Poland: the housing market boom

(CC0 pixabay)

Lithuanian Prime Minister: exporting oil products via Russia dangerous for Belarus

Russian Sberbank collects debts of Croatian Agrokor in Serbia

 

Poland

Apartment sales in Poland are 80 per cent higher than in 2007, the Polish Radio informs, citing an expert Katarzyna Bednarczyk. “Since 2014, the real estate market has been setting new records all the time,” Bednarczyk told PAP news agency. Nevertheless, there is still a potential on the market. If Poland wants to catch up with the European average in terms of the number of dwellings per 1,000 inhabitants, it has to close a gap of about 3 million housing units. 

The factors influencing the housing boom are: a combination of consistently low interest rates, relatively cheap mortgages and unprofitable bank deposits, the expert claims.

In 2016 developers got 110,000 building permits (up 13 per cent y/y) and completed about 80,000 units (up 26 per cent y/y).

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Lithuania

After Vladimir Putting called Belarus to direct its transit oil product shipments through Russia, CSE countries commented that it will deepen Belarusian dependence on Russia. The Baltic Course quotes Lithuanian Prime Minister Saulius Skvernelis who claims that if Belarus agrees it will be dangerous for the country (and economically unviable).

“Sending shipments by Russian railways via Russian ports would be economically unviable and strategically dangerous (for Belarus), given that these (Russian) ports freeze (in winter) and that climatic conditions are completely different there. This is especially sensitive for oil product shipments,” Skvernelis commented in a radio interview. He also added that his country will “make active steps to ensure that Belarusian products continue to be transported by Lithuanian railways through the port of Klaipeda”.

Oil products are a major export item for Belarus but Minsk and Moscow failed to agree on how to share revenues from oil products made from Russian crude oil.

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Serbia

Russian Sberbank wants to take over Serbian assets of Croatian Agrokor. As the Balkan Insight reports, Russians are “trying to collect some Agrokor’s debts”. Sberbank has already initiated proceedings before the Commercial Court in Belgrade to acquire twoAgrokor’s companies – Jamnica and Konzum, owning Mivela and IDEA in Serbia.

Sberbank seeks the return of EUR1.1bn in loans from Agrokor which also owns Dijamant, Frikom, Kikinda Mills, Mercator S, and Nova Sloga in Serbia. It is unknown what are the further plans of Sberbank, it will either rent the units to Serbian business or sell them.

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What’s up in indexes

BET (of Bucharest) increased from 8,294.83 index points Wednesday, August 16th to 8,330.91 index points Thursday, August 17th. It’s up 0.47 per cent d/d and up 21.33 per cent y/y.

BUX (of Budapest) increased from 36,892.09 index points Wednesday, August 16th to 37,187.29 index points Thursday, August 17th.  It’s up 0.80 per cent d/d and up 33.81 per cent y/y.

CROBEX (of Zagreb) decreased from 1,905.96 index points Wednesday, August 16th to 1,900.40 index points Thursday, August 17th. It’s down 0.29 per cent and up 6.23 per cent y/y.

OMXR (of Riga) increased from 1,004.31 index points Wednesday, August 16th to 1,012.37 index points Thursday, August 17th. It’s up 0.80 per cent d/d and up 58.23 per cent y/y.

OMXT (of Tallinn) increased from 1,250.57 index points Wednesday, August 16th to 1,259.11 index points Thursday, August 17th. It’s up 0.68 per cent d/d and up 25.59 per cent y/y.

OMXV (of Vilnius) increased from 648.78 index points Wednesday, August 16th to 651.47 index points Thursday, August 17th. It’s up 0.41 per cent d/d and up 22.00 per cent y/y.

PX (of Prague) increased from 1,033.83 index points Wednesday, August 16th to 1,037.52 index points Thursday, August 17th. It’s up 0.36 per cent d/d and up 21.95 per cent y/y.

SAX (of Bratislava) decreased from 326.08 index points Wednesday, August 16th to 325.54 index points Thursday, August 17th. It’s down 0.17 per cent d/d and up 3.44 per cent y/y.

SOFIX (of Sofia) decreased from 730.90 index points Wednesday, August 16th to 729.19 index points Thursday, August 17th. It’s down 0.23 per cent d/d and up 55.84 per cent y/y.

UX (of Kyiv) increased from 1,120.16 index points Wednesday, August 16th to 1,123.61 index points Thursday, August 17th.  It’s up 0.31 per cent d/d and up 62.24 per cent y/y.

WIG20 (of Warsaw) decreased from 2,381.18 index points Wednesday, August 16th to 2,353.18 index points Thursday, August 17th. It’s down 1.18 per cent d/d and up 28.98 per cent y/y.

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