Overview

CEDEM CEE 2008 comes exactly one year after the outbreak of a financial crisis that is redefining the property industry, not just in Central and Eastern Europe, but in Western Europe and beyond. Twelve months ago, delegates were certainly concerned about the collapse of liquidity in the US and the impact it could have on the other side of the Atlantic, but few believed the difficulties would lead to major changes.

The severity of the crisis has exceeded virtually all expectations, but property experts throughout CEE are generally relieved that things here aren't worse. After all, yield compression had brought prices in the region virtually into line with Western Europe with an unprecedented speed, and pessimists worried that a property bubble could be exposed. Continued strength on the rental markets in almost all sectors, however, seems to be indicating that a slight correction may do the trick, although a slowing economy could hit some office markets at a time when strong expansion would be far more preferable.

Inevitably, the credit crunch will underlie much of the discussion over the two days of CEDEM CEE 2008, with panels focusing on the investment market, the opportunities for value creation on commercial property sectors and the prognosis for the region's residential market.

Having grown into CEE's most intensive venue for debate on all aspects of the property market, the conference provides an unparalleled opportunity both for professionals to compare notes and experiences, and to make potentially vital new contacts at the various social events that are an important component of the schedule.