The only European city that was better than Cracow turned out to be Dublin with 8th place. Cracow on the other hand was better than Prague (20th place), Budapest (27th place) and Brno (31st place).
According to ABSL about 15 – 18 000 people are employed in modern business services in Cracow. The number increases every year. We also observe a constant interest in office space for rental from the companies who represent this market. It is estimated that tenants currently need around 60 000 sq. meters of office space. – said Rafal Oprocha the Manager of Cracow’s branch of Jones Lang LaSalle.
The office real estate market in Cracow can be considered a mature one. It can be placed right after the commercial real estate market.
Cracow has already got 500 000 sq. meters of office space and another 60 000 sq. meters are being built. 200 000 sq. meters of space more depends on the amount of pre – lease contracts signed with potential customers.
A highly developed mercantile market of Cracow is undoubtedly a big advantage. There are all sorts of trade available including the first clearance sale centre that belongs to Neiver – Factory Inc. opened in autumn 2011. The Cracow’s 11 shopping centres, 2 shopping parks, 14 specialized storehouses and a newly opened clearance sale centre are completed by Old Town full of flagship stores of many well-known companies – said Patricia Lannoije the Director of the Research Department of Jones Lang LaSalle.
In the future a strangulation of supply can be expected. The developers will be less flexible which may result in the increase of rents. In 2013 there may be a shortage in supply.