Globalization of markets has created new opportunities for the development of real estate investment on a cross-border basis. Paralleling wider world processes, the collapse of communism in central and eastern Europe has led to a transformation from command to market-based economies. Poland, the Czech Republic and Hungary have been prominent in this process. This article using the results of a survey of institutions and property companies in the United Kingdom and other European Union countries assesses the extent to which these central European countries are offering investment opportunities in real estate, ten years after the transformation.
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McGreal et al. (2001) studied this question.
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