Page 20 - Poland 2017
P. 20

POLAND YOUR PLACE TO INVEST 20//
AT THE END OF 2016, THE TOTAL OFFICE STOCK IN POLAND WAS ESTIMATED AT OVER 9M SQ M WITH A DIVERSE RANGE OF OFFICE BUILDINGS ON OFFER MAINLY IN THE SEVEN LARGEST CITIES. IT IS WORTH EMPHASIZING THAT THE POLISH OFFICE MARKET IS UNIQUE IN TERMS OF NUMBERS OF OFFICE LOCATIONS WHEN COMPARED WITH OTHER CEE COUNTRIES, WHERE ALMOST ALL THE STOCK IS CONCENTRATED IN ONE CITY, WHICH IS TYPICALLY THE CAPITAL.
Warsaw remains the dominant market with a total modern office stock amounting to 5M sq m, with a further 3.6M sq m of modern office stock located in six major regional cities: Krakow, Wroclaw, Tricity, Katowice, Poznan and Lodz. The remaining office stock is located in the emerging office markets.
Warsaw is the largest and the most expensive office market in Poland. Monthly asking rents range from EUR 14 to 24 per sq m in the Central Business District, while in non-central locations they vary between EUR 10.5 and 18 sq m/month. The capital city is, at the same time, the most dynamically developing market, where the rapid growth of office stock currently outpacing the relatively stable demand resulting in the increasing availability of office space.
The largest regional cities, including Krakow, Wroclaw, Tricity, Katowice, Poznan and Lodz, are also relatively rapidly developing office markets, which offer a well-developed business infrastructure and provide a competitive level of
investment costs. While in Warsaw these are the financial, public, telecommunication and IT sectors that traditionally make up the largest share of lease agreements volume, in regional cities in the last five years tenants from the growing business services sector have played the essential role. According to our estimates, they currently occupy from 20% of office space in Tricity to nearly 50% in Krakow, and the percentage will increase together with projected employment growth in the sector, and the opening of other business services centres in Poland.
In comparison to the capital city, the regional cities allow investors to generate savings from lower labour costs while offering a large supply of well-qualified employees and tax incentives in special economic zones, as well as lower rental rates for office space.Asking rents in A-class and B-class buildings in most major regional cities range from EUR 8.5 to 15.5 sq m/month.
WARSAW KRAKOW WROCLAW TRICITY // // // //
Total stock:
5.045M sq m
Offices under construction: 856,000 sq m
Asking rents:
EUR 10.5-24 sq m/month
Total stock:
916,000 sq m
Offices under construction: 260,000 sq m
Asking rents:
EUR 12-14.5 sq m/month
Total stock:
848,000 sq m
Offices under construction: 166,000 sq m
Asking rents:
EUR 10-15.5 sq m/month
Total stock:
634,000 sq m
Offices under construction: 150,000 sq m
Asking rents:
EUR 10-14 sq m/month







































































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