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Regional markets favorable to tenants

Boom takes office in Poland. Apart from Warsaw, the most active markets in terms of supply are Cracow, Wroclove and Tri-City.

Katowice, Tri-City and Krakow - the city was dominated by new supply of office space in the first half of this year. According to JLL, on the largest regional markets during this period was opened a total of 123 100 sqm. of surface, of which the 24 percent of corresponded to the capital of the province of Silesia, and the Tri-City and Krakow - by 20 percent of each. Only in Lodz, there was no increase in the volume of surface.

The largest project of the second quarter on regional markets were Olivia Four in Gdansk (12 500 sqm.), Alma Tower in Krakow (10 400 sqm.) and GPP Business Park II in Katowice (7500 sqm.).

Developers in regional cities remain active: under construction is now 531 400 sqm., Most of which (67 percent.) Formed in Cracow, Wroclove and Tri-City. In the capital of Malopolska implemented is 136 500 sqm. of surface, with 64 percent will be delivered before the end of the year. Krakow also stands out factor pre-let at 44 percent - In other regional cities it ranges between 18.5 and 25.5 percent, The exception is Szczecin, which amounts to 8.5 percent.

Demand side

On the markets in the first half of the year rented 189 000 sqm. of offices, of which 90 600 sq m. in the second quarter. For most transactions can be regarded as those signed by the company: UPC (renewal, 6,500 sqm. In Green Park, Katowice), IT company (expansion, 5600 sqm., Enterprise Park C, Krakow) and bank (renewal, almost 5000 sqm. Silver Forum, Wroclaw).

The revival of the rental market has recorded in Łódź. In the second quarter, gross demand amounted to 14 200 sqm., what is 85 percent of demand recorded throughout 2013. The most active market in terms of demand were Katowice, where he signed transactions involving more than 22 000 sqm. of surface.

Least vacancy is located in Cracow - only 4.5 percent. The highest vacancy rate has Szczecin (24.4 percent.).

Per sqm.of office space minimum pay in Lublin - from 11 to 12 euros per month. Average rents are highest in Cracow (13.7 to 14 euros) and Katowice (12,5-13,75 euros).

We expect that the terms of the lease in most office markets in Poland remain favorable to tenants. A balanced market situation will be particularly visible in these cities, which are characterized by high demand and a relatively low vacancy rate - sums Mateusz Polkowski, Director of the Department of Market Research and Consulting, JLL.

Full report in PDF JLL below.

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