From almost nothing five years ago, the institutional residential property market has grown to the point where investors say housing is starting to challenge office buildings as a focus for their cash. And higher yields and scope for growth are spurring new projects, market players say. "We are currently surprised ourselves by the speed of the change and how the market is changing," he told Reuters. "Many institutional investors are looking to gain the first mover advantage and moving in," Wysokińska-Kuzdra told Reuters. The war in Ukraine has also created uncertainty, so that some investors are focused only on finishing current projects.

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