Polish office market is great, or so the representatives of CBRE say in their report, . Experts point out that in the major Polish cities, we have 6 million square meters of modern office space and the Polish capital is at the forefront of Europe in terms of volume of office space planned for completion in 2012, According to the projections for next year, supply will exceed demand in major regional centers.
The office market in good shape
Poland is one of the developing areas among European office property markets according to the latest report by CBRE.
- Poland is successfully defending against the slowdown we are seeing in many markets worldwide. At the same time it works to our advantage. Many companies are trying to reduce costs and transfers its activities to Poland or they extend it here. The number of tenants of modern business services industry (BPO), as well as research and development (R & D) is rapidly growing . They are willing to locate their headquarters in large Polish cities, where costs are lower and it is easy to access highly skilled workers - says Daniel Bienias, director of the office space branch, tenant representation, of CBRE.
In Poland, the prices for the best office space are ranging between 11 - 16 euro / sq.m. / month for the best locations in major Polish cities and outside the city center, reaching 26 - 27 euro / sq.m. / month in the business center of the capital.
- In most locations there is a mature market and stabilized rents.Given the increasing amount of space under construction in the coming year, you can expect the downward trend in rents, especially in Class B buildings located outside city centers. We will also witness more and more incentives from the owners and developers seeking tenants - predicts Łukasz Kałędkiewicz, director of the office space at CBRE.
As expected, in good condition, is primarily the Warsaw office market. The Polish capital gained 280,000 sq m of new office space this year, which places it at the forefront of European cities in terms of the construction of office buildings, right after Moscow, Paris and Vienna and before London, Prague and Budapest.
Also the development is noted of the capital of Malopolska voivodship, which attracts investors from IT and BPO industries. Krakow has become one of the most appreciated locations thanks to the educated workforce, low cost of living compared to Warsaw and friendly business climate. The city became the city of choice for many Polish and foreign investors, which is the source of the high demand for office space. Modern space in the city is now at the level of 425,000 square meters.
Particular interest of local developer has the Tri-City, which is dominated by Allcon Investment, Investment Group Hossa, Torus and TPS. Katowice also opted for development. The city authorities recently announced a long-term development strategy and they plan a series of public investments aimed at better positioning of the city.
Experts point out, the overwhelming supply of Lodz. In this city, there is about 261,000 square meters of existing office space and as many as 71,500 sq m currently under construction. The proximity to the German border, in turn, trumps Szczecin, where the total area of high-quality office space currently has 109,000 sq m, and another 80,000 sq m is under construction. Its position on the Polish map more clearly draws Lublin, where one can find educated staff, but also high unemployment and modernized infrastructure, which consists to the development potential of the region.