Central and Eastern European property investment markets: issues of data and transparency

Purpose - This paper seeks to assess issues of data and the extent to which property markets are becoming more transparent in Central and Eastern Europe, discussing stages in the transformation and evolution of markets with reference to sources of real estate information. Design/methodology/approach - Current perspectives on data sharing and drivers for change in Central and Eastern Europe draw on evidence from structured interviews with key market players in the region. This is supported by a consideration of secondary data sources. Findings - The analysis indicates that information on stock characteristics, notably offices, has developed since the start of the 1990s but there remains an absence of performance benchmarking in the investment market. Conclusions highlight the significant process of change but identify the need for property investment markets to be more accurately measured and tracked. Research limitations/implications - Limitations arise from data, in particular restricted time series data, lack of disclosure of data due to their intrinsic value, the perceived benefit of holding a competitive advantage and issues arising from the compatibility between various data sources. Originality/value - The paper considers the relationship between the availability of market data and the development of properly functioning markets in Central and Eastern Europe; the attributes that have encouraged the development, availability and effective use of property market data; and the impacts of data availability on patterns of property market development in Central and Eastern Europe.