Commercial property market remained strong in 2011

2012-02-21



Due to a rather stable economic situation and resilience of economy, in 2011 Poland was the country of choice for investors operating on the commercial property market, according to a report prepared by DTZ.
In 2011, developers completed 740,000 m² of retail space, which represents an over 35% year-on-year increase. The largest number of shopping centres was still completed in large cities, but investors more often decided to implement projects also in smaller cities.
Last year, 120,100 m² of office space was completed, with approximately 230,000-240,000 m² expected to be supplied this year. In 2013, developers may add to the market as much as 330,000-350,000 m² of modern office space. Last year, more than 400,000 m² of office space was let, which was more by 80% and 13% relative to 2009 and 2010, respectively.
In 2011, the most difficult situation was observed on the warehouse space market. Developers tried to attract tenants for already completed space or implemented projects under specific contracts. Approximately 350,000 m² of warehouse space was supplied, and as at the end of year approx. 390,000 m² of warehouse space was under construction.
DTZ data shows that commercial property was often purchased by investment funds. In 2011, the total value of transactions made in Poland amounted to €2.5bn, up by 30% over 2010. If the situation on international markets does not suddenly deteriorate, this year Poland may attract even more investors.

Find more news and analyses in internet service Construction Poland Online and pdf newsletter Polish Construction Review.