The improvement of infrastructure in Poland, including new by-passes, motorways, modernization of railway tracks and a new underground line in Warsaw, stimulate the growth of the real estate market by creating new locations considered as attractive by developers. It concerns all market segments: offices, trade and warehouse areas, says Colin Waddel, Managing Director of CBRE in Poland.
The steady development of the market is confirmed by statistics. In Warsaw, in the first quarter of the current year, 125 000 sq.m. were rented, which is 37% less than in 2011. Analysing the number of requests addressed to CBRE, it is possible to conclude that the pace of finalizing lease contracts should grow and remain on the similar level to that of 2011. It can also be observed that the amount of office space put into use and of new investments grows.
The office market develops not only in the capital, but also in other cities. The most popular cities, where foreign investors invest, are Kraków and Tricity (Trójmiasto). On the regional markets, lease contracts for over 100 000 sq.m. were concluded.
The growing demand for the warehouse spaces in Poland is a noticeable phenomenon. CBRE noted the evident increase in renting these spaces. In the first quarter of 2012, 480 000 sq.m. were rented, which is 10% more than in the previous year. The better situation in the warehouse spaces market is confirmed also by the decreasing percentage of vacant spaces.