2016 will see further office developments
The stable economic status of Poland and its growing importance in Central and Eastern Europe is still encouraging foreign investors to show a greater interest in our office market. Warsaw is, of course, the main beneficiary of the influx of international capital, but regional cities have been gaining in significance over the last few years. A large number of projects carried out in the capital city and, as a result, the growing vacancy, have resulted in a reduction of effective rent rates. I think that this trend will continue into 2016. The strong competition on the Warsaw market is persuading investors to become more involved in large regional cities. Apart from the dominant group of large office facilities that are currently under construction or planned, the smaller, cosier office building segment has also been developing very well. 2016 will bring more changes to the office market. Warsaw could see a further growth in vacancy related to the increasing amount of new office space available. Other locations on the office map of the capital city will gain in significance at the cost of has been up to now the main office district, Służewiec. The focus will shift to Wola district, which is experiencing a renaissance thanks to the construction of the second line of the underground, among other factors. The owners of some poorly leased office properties close to Galeria Mokotów are likely to start turning them into apartments. The lack of public infrastructure, which is always the case in residential areas, will be an additional challenge for them.
An open door to redefining the commercial real estate market in Poland
An open door to redefining the commercial real estate market in Poland
The investment slowdown in the commercial real estate sector that we have been observing in Poland for over a year is primarily the result of the tightening of monetary policy arou ...
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The retail sector is not slowing down
The retail sector is not slowing down
The pandemic, conflict in Ukraine as well as inflation and high interest rates that recent years have brought have reshaped the real estate market around the world. The global slow ...
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Retail parks – current opportunities
Retail parks – current opportunities
Over the last few years, retail parks in Poland were mostly developed in smaller formats, around 5,000 sqm, either adding to the existing retail landscape or introducing modern ret ...
Avison Young