Approximately €754 million was invested in Polish commercial property in the first quarter of 2019, according to Cushman & Wakefield’s latest investment market report.
“The investment volume hit approximately €754 million in the first three months of 2019, of which over 70%, or €536 million, was invested in office assets. Although the first quarter’s result accounts for just a little more than one third of that recorded in the same period last year, the Polish market is likely to see an equally strong performance this year as in 2018 given pending transactions, the level of investment activity and asset availability,” says Marcin Kocerba, Associate, Capital Markets, Cushman & Wakefield.
According to Cushman & Wakefield, office and hospitality assets attracted the strongest investor interest. Hospitality investment volume hit more than €143 million, which represented more than a threefold increase on the same period last year (approximately €43 million). The office sector saw an almost fourfold increase with nearly €536 million traded in Q1 2019 compared to approximately €142 million in Q1 2018. Retail attracted only €36 million in Q1 2019. The investment activity in the industrial sector reached €39 million in the first three months of 2019, down from approximately €135.2 million recorded in Q1 2018.
“Last year’s trends gained momentum in the first quarter of 2019 with high levels of investment activity on the office and industrial markets, and an increased interest in alternative assets such as hotels, PBSA and PRS. Investors are far more cautious about the retail sector with demand being highly selective,” says Marcin Kocerba.
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