Cushman & Wakefield: Marketbeat Poland – Spring 2013

According to Marketbeat Poland–Spring 2013 report from Cushman & Wakefield, a leading global real estate services firm, last year’s office leasing volume shows the office market picking up momentum, gaining in importance relative to other property sectors. The retail market slowed compared with previous years. 2012 was the best year ever for the warehouse investment market.

“Marketbeat Poland – Spring 2013” presents a summary analysis of the Polish office, retail and warehouse markets in 2012, with forecasts for the near future.
 Commercial investment market
  • Investment transaction volume hit a record EUR 2.8bn (the best result since 2007 and the third consecutive year of growth)
  • This total accounted for 75% of Central Europe’s annual volume
  • Investment warehouse transaction volume rose by more than 180% year on year
Office sector
  • Another year of record volume of lease transaction (960,000 sq m)
  • Office supply more than doubled compared with 2011 and reached 509,000 sq m at year-end 2012
  • The largest project completed in 2012 was Skanska’s Green Corner (24,500 sq m) and the largest deal was T-Mobile’s lease of 27,000 sq m in Ghelamco’s Marynarska 12 complex (currently under construction)
  • Krakow remains the largest and Wroclaw the fastest-growing regional office market

Retail sector
  • The retail market in Poland is reaching saturation and its growth is slower compared with previous years
  • The biggest retail schemes to open in 2012 were Korona Kielce, NoVa Park Gorzów Wielkopolski and Galeria Rzeszów
  • Rents remained stable

Warehouse sector
  • More than 500,000 sq m of warehouse space came on the Polish market in 2012
  • Take-up fell and stood at more than 1,500,000 sq m
  • Rents remained flat or edged down slightly