Real Estate for a Changing World
BNP Paribas Real Estate Poland presents a summary of the opening months of 2024 in the Polish capital in its latest report “At a Glance. Warsaw Office Market”. The Warsaw office market is evolving as office availability has been shrinking considerably in recent years. The first quarter of 2024 saw a slower pace of service charge growth, longer leases and the refurbishment of obsolete office stock.
The latest report from BNP Paribas Real Estate Poland titled “Modern Retail Market in Poland” looks at Polish retail in the first quarter of 2024. Retail parks continue to attract strong investor interest and remain the most popular retail format on the development market. Meanwhile, new brands are entering the Polish retail market, which is also seeing the rise of AI-powered solutions.
The latest report from BNP Paribas Real Estate Poland titled “Modern Retail Market in Poland” looks at Polish retail in the first quarter of 2024. Retail parks continue to attract strong investor interest and remain the most popular retail format on the development market. Meanwhile, new brands are entering the Polish retail market, which is also seeing the rise of AI-powered solutions.
Cromwell Property Group has completed the sale of its six shopping centres, including CH Janki, to a Czech-based investment fund that is committed to expanding its commercial property portfolio in Poland. BNP Paribas Real Estate Poland advised on the transaction.
In March 2024, edutainment centre Klockownia signed a lease for a unit in Pasaż Górczewska, at ul. Górczewska 218. Its current format will be extended to include an interactive construction play area spanning as much as 1,100 sqm of attractions for children. The venue is scheduled for opening on 1 June.
A 4-day work week is becoming an increasingly hot topic. Although in Poland it still appears to be a thing of the future, recent years have shown how quickly labour market trends are changing. AI is also broadly expected to have a significant effect on the workplace. How will all of this impact the commercial real estate market?
Well Fitness opened its new 24/7 club with an area of over 2,300 sqm on 4 March 2024. The new club is located in the Gocław Shopping Centre, at ul. gen. Augusta Emila Fieldorfa “Nila” 41. The brand’s offer includes the Well Start programme for beginners, memberships for classes with a trainer certified by Rehasport (an international leader in orthopaedics and rehabilitation) and an unlimited access to Well Hydrated drinks. At Well Fitness clubs you can also exercise 24/7 with a Medicover Sport package.
Investor sentiment was driven by rising interest rates, long-term government bond yields and challenging economic and geopolitical events experienced over the past 18 month.
Demand and supply slowed during the last quarter but remained relatively strong, reveals the latest report “At a Glance – Industrial and Logistics Market in Poland, Q4 2023” from BNP Paribas Real Estate Poland. Both vacancy and rental rates edged up by the end of 2023. Looking ahead, urban warehouses and built-to-suit projects will increase in popularity.
According to experts from BNP Paribas Real Estate Poland who released “At A Glance – Investment Market in Poland, Q4 2023”, Poland’s economic outlook remains stable but the global geopolitical situation and high interest rates across Europe continue to hamper a quick rebound in commercial property trading and large-scale transactions. Last year’s results confirmed a fall in liquidity for the CRE sector in Poland.