A fresh wave of optimism is sweeping through the Polish property market, according to the most recent Markbeat Polska report from Cushman & Wakefield. Poland’s office sector is leading the revival both in terms of transaction volume and the number of new investments going up around the country.
Poland’s office sector accounted for 51.5 percent (€719m) of the total transaction volume in H1. The biggest deal was the acquisition of Rondo 1 in Warsaw for around €300m. The country’s retail sector made up 26.5 percent of the total transaction volume, marking a decrease compared with the same period in 2013. The largest deal in that sector was Blackstone-managed fund Logicor’s acquisition of seven logistics facilities owned by Standard Life Investments Select Property Fund.
The Polish commercial investment volume in H1 reached €1.4bn, up 27 percent from the same period in 2013. As in previous years, investors from Germany, the US and the UK were the main drivers, taking 85 percent of all deals. Polish investors accounted for around 5 percent, roughly the same as in 2013.
“The revival in the commercial property market in Poland is apparent. This bounce in the sector mirrors the marked improvement in the overall economy seen last year. Strong development activity and stable occupier demand helped attract foreign investors’ interest,” says Charles Taylor, managing partner at Cushman & Wakefield Poland.
