The Guardian has just published a fascinating article about the reprivatization of property in Warsaw. This is the process by which previously nationalized property is returned to pre-communist owners, or their heirs.
Not surprisingly, the government gets a lot of these sorts of claims, though many of them are clearly bogus. Between 2007 and 2017, Warsaw City Hall estimates that 447 properties, representing about 4,479 dwellings units, were reprivatized.
For some, all of this is restitution for widespread expropriation during the communist era. But for others, it quite simply means eviction.
The story at the beginning of the article – about a family who is immediately evicted from their apartment and has their belongings thrown out – seems almost hard to believe. One would think that there would be more sensible transition policies in place.
Another negative has to do with the uncertainty that this creates in the market. Why would you buy and/or invest in a property if there was any inkling that it could be taken away from you? You wouldn’t.
The Guardian has just published a fascinating article about the reprivatization of property in Warsaw. This is the process by which previously nationalized property is returned to pre-communist owners, or their heirs.
Not surprisingly, the government gets a lot of these sorts of claims, though many of them are clearly bogus. Between 2007 and 2017, Warsaw City Hall estimates that 447 properties, representing about 4,479 dwellings units, were reprivatized.
For some, all of this is restitution for widespread expropriation during the communist era. But for others, it quite simply means eviction.
The story at the beginning of the article – about a family who is immediately evicted from their apartment and has their belongings thrown out – seems almost hard to believe. One would think that there would be more sensible transition policies in place.
Another negative has to do with the uncertainty that this creates in the market. Why would you buy and/or invest in a property if there was any inkling that it could be taken away from you? You wouldn’t.
The index – which is now in its 18th edition – is created using two main ingredients. The first is an analysis of 5 broad areas of competitiveness: 1) business environment, 2) financial sector development, 3) infrastructure, 4) human capital, and 5) reputational & general factors. And the second is an online survey given to financial services professionals. The 2015 edition includes responses from 3,194 professionals.
Below are the top 25 financial centres in the world according to the GFCI (the full list has 84 cities).
The index – which is now in its 18th edition – is created using two main ingredients. The first is an analysis of 5 broad areas of competitiveness: 1) business environment, 2) financial sector development, 3) infrastructure, 4) human capital, and 5) reputational & general factors. And the second is an online survey given to financial services professionals. The 2015 edition includes responses from 3,194 professionals.
Below are the top 25 financial centres in the world according to the GFCI (the full list has 84 cities).
Here are a couple of things to note from this year’s index:
London has overtaken New York for the top spot – but both remain more or less at parity if you dig into the numbers.
Dublin is performing particularly well in Western Europe.
The leading centre in Eastern Europe is Warsaw (38th), with Istanbul just behind it.
Toronto is now second in North America, only to New York.
Sao Paulo remains the top Latin American centre.
And, Los Angeles (49th) and Liechtenstein (60th) join as new entrants this year.
If you’d like to see the full report and ranking, click here.
Here are a couple of things to note from this year’s index:
London has overtaken New York for the top spot – but both remain more or less at parity if you dig into the numbers.
Dublin is performing particularly well in Western Europe.
The leading centre in Eastern Europe is Warsaw (38th), with Istanbul just behind it.
Toronto is now second in North America, only to New York.
Sao Paulo remains the top Latin American centre.
And, Los Angeles (49th) and Liechtenstein (60th) join as new entrants this year.
If you’d like to see the full report and ranking, click here.
