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Foreign capital dominates on the Polish market

According to the latest Savills report, foreign investors were responsible for over 98% of all the transactions on the globel real estate market in the first quarter of 2012.

Foreign capital dominated on the Polish Real estate market in the first quarter of 2012, and the value of transactions amounted to 728 mln EUR and was 21% higher in comparison with the first quarter of 2011.

Foreign investors come mainly from the United States, Austria, Germany and Great Britain. On the basis of the successful beginning of 2012, the agency estimates that the value of transactions in Poland by the end of the year will reach the level comparable to that of the amount of 2011, that is 2,5 bn EUR.

The Savills report mentions two transactions in the market of office areas in the first quarter of 2012. They are both in the central business area in Warsaw, and, on the basis of this, the agency estimates that the investors’ interest will focus mostly on the capital. In the sector of warehouse spaces, one investment transaction has been noted, that is the sale of 10 buildings and one lot for investment, by Prologis ti the Hines Global REIT fund for about 92.8 mln EUR.

Michał Stępień, Senior Consultant in the Market Research Team of Savills Polska, says, Warsaw is still the main aim of investors and we expect the offices in the best locations to remain the most sought after product on the market. Besides, we expect the increase of investment in warehouse estate, which is related to the rise of tenants’ interest in this market.

Savills estimates that capitalization rate for the best Office Real estate in the central business area in Warsaw Mount to 6.00-6.25%. For office real estates located outside the exact centre amount to 6,75%, whereas in the bigger regional cities they currently amount to 7,50%. Capitalization rates for warehouse spaces in Poland amount to, on average, 7.50-7.75%.

In the trade Real estate sector, the capitalization rates for the Best locations remained on the stable level of 6.00% for shopping centres in the main regional cities. For the leading shopping malls in smaller cities, they amount to 7.00-7.50%. According to the prognosis of the Savills agency, renting rates in all the sectors will remain steady in 2012.


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