As highlighted in the study by the firm Jones Lang LaSalle (JLL), the business services industry has become a kind of driving force of modern office real estate market in Poland, particularly outside of Warsaw.
According to the report, this, What distinguishes Poland among other countries in the region, a large number of very well-developed office and urban centers such as Warsaw, Kraków, Wrocław, Tricity, Katowice, Poznan, Lodz, Szczecin and Lublin. “To play for tenants of the modern services sector also includes other cities having the appropriate infrastructure and personnel. The possibility of diversification and diversified offer are unquestionable advantages of Polish office market “- underlined.
According to data presented today developers are building across the country a record amount of about 1.4 million sq. M of new offices, of which more than half falls Warsaw. This will contribute – according to the authors of the report – to further slight increase in vacancy rates. According to estimates by the end of the first quarter of this year in the capital of the free office space amounted to approx. 580 thousand. sq. m., almost as much as the total resources of Wroclaw office.
The most dynamic markets outside the capital remain Wroclaw, Krakow and Tri-City, where developers build 178 thousand respectively. sq. m, 157 thousand. sq. m and 140 thousand. sq. m of offices. This will increase the availability of office space, which will be beneficial for the tenants.
In Krakow, which is the largest outside Warsaw office market, the vacancy rate for two years has remained at a low level of 3-6 per cent. This means that in many cases the big tenants need to find the right office in investments that are still under construction.
The current situation is different in Poznan, which has the highest vacancy rate in Poland. JLL Estimates indicate that approx. 23 per cent. Resources office in the city of the city remains without a tenant. In the middle of this is caused by a single large project, completed in the first quarter of this year. On the other, the largest office markets coefficient ranges from 7.9 percent. Lodz to 14.1 percent. in Szczecin.
According to the report, companies from the modern business services (BPO / SSC) occupy 65 per cent. of office space in cities outside Warsaw. Most – 81 percent. Wroclaw, by 69 percent. in Krakow, to only 13 percent. in Poznan.
The monthly rental rate for the best office space in Poland, meeting the requirements of companies in the sector of modern services for business and located in major urban centers are at the level of 11 to 15 euro per sq m. In cities ‘emerging’ rates are lower and fluctuate around 8 – 12 euros.
According to analysts, the real estate market in most major office markets seeing a slight downward pressures on rental rates. It is associated with strong competition both between the existing and completed office buildings.
No comments:
Post a Comment