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POLAND Investor confidence set to recover – Cresa

Investment & finance
Despite the impact of the pandemic, Poland should continue to be an attractive commercial real estate investment destination, according to Cresa.

If the solid economic fundamentals in the country are not weakened by its overregulation and fiscal policy, and the government temporarily helps businesses to maintain liquidity, investor confidence in most commercial real estate sectors should fully recover by the end of this year, claims the consultancy.

The current situation is an opportunity for the most agile market players. If there is a temporary dip in property prices, investors seeking long-term profit will stand a chance of earning high rates of return in the future.
Bolesław Kołodziejczyk, the head of research and advisory at Cresa Poland

Office landlords now have the opportunity to retain their current tenants through lease renegotiations with extension options. Whether smaller tenants will revert to using co-working space more, thereby helping co-working providers maintain adequate levels of profitability, remains to be seen. But there is little doubt that co-working space is still the best option for tenants looking for a prestigious address.

Warehouse demand is being driven by e-commerce, which is benefiting logistics operators and courier and delivery companies. Supply chain diversification and international corporations bringing manufacturing closer to consumer markets could represent a huge opportunity for the warehouse and industrial market. Poland is in the top tier in the race to attract such investors.

Opportunities will be plentiful in the hospitality sector, where rebuilding high occupancy rates and income levels will be slow but steady. Unfortunately, many hotels could close down or change hands. Individual hotels will continue to transform into branded hotels of large chains, since unbranded hotels account for almost 70 pct of the Polish hospitality market. Well-structured international brands with strong capitalisation would be loath to miss out on such opportunities.

Despite the continuing uncertainty about the eventual scale and duration of the pandemic restrictions globally, investors with access to large pools of liquid capital are likely to take advantage of the many new opportunities available on the Polish market.
Bolesław Kołodziejczyk

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