In 2011, the total amount of transactions in all three commercial real estate sectors reached 2,5 bn euro (which, in comparison with the previous year constitutes the increase by 28%). 1,15 bn euro accounted for the office sector, which was only 5% less in relation to the first, in the specification of office areas (1,2 bn euro), according to the report “Capital Markets Bulletin”, devoted to the investment market, which was prepared by Jones Lang LaSalle.
The value of transactions which were devoted to office areas, reached the highest level within five years. The most important contracts of 2011 concerned, among others, the office blocks North Gate, Focus, Park Postępu and Miasteczko TP; their total amount reaches over 40 per cent of the total volume. The result of the end of the year was heavily influenced by the CA Immo’s takeover of the real estate holdings of Europolis. The vast majority of transactions were concluded in the Warsaw market. The only significant investment noted outside the capital was the purchase of two office buildings within the Green Office complex in Kraków (A and B) by the fund Azora Europa.
According to our evaluation, by the end of 2011, the capitalization rates for the best investment products in the office sector amounted to 6,25 per cent. (…) We predict that in the short-term perspective, they will not be subject to any fluctuations, but it will be dependent mainly on the development of situations in the Eurozone and in the bank sector, summarizes Tomasz Trzósło, Head of the Capital Market Department Jones Lang LaSalle in Poland and Central and Eastern Europe region.Download PDF