Polish property market to get soccer boost

THE burgeoning Polish property market has received a further boost from the announcement that the country is to co-host the 2012 European football championships in conjunction with Ukraine.

THE burgeoning Polish property market has received a further boost from the announcement that the country is to co-host the 2012 European football championships in conjunction with Ukraine.

The benefits will not just be seen in the demand for accommodation during the championships but also in the infrastructural investment that will be required to service the influx of visitors.

Simon Palmer, director of Empire, the property investment advisors, says “we could see a ‘Wembley Effect’ in Warsaw where a massive new stadium could provide additional leisure facilities that could boost the area around the stadium such as is happening in London around the new Wembley stadium.

“Millions of euro will be spent promoting the countries and raising awareness of these locations in the wider world. Millions will be spent in the local economy by visitors to the championships.

“The many Polish emigrants in Ireland, the UK and rest of Europe will be encouraged to return to help build the infrastructure and to attend the championships or just be near home during the tournament. Obviously these emigrants will be returning home with euro earned abroad in their pockets. The good feeling generally in the country will benefit spending in the economy and the confidence of Poland as a nation.”Some of the stadia are already being built or renovated including a new 70,000 seater in Warsaw which is due to be completed in 2009 and a 55,000 seater in Donetsk which is due for completion in 2008