News Article Kraków LivUp Poland PRS residential
by Property Forum | Investment

LivUp has finalized the purchase of a property in Kraków from Galinvest. The new LivUp project will include about 80 residential apartments for long-term rental, as well as additional amenities and facilities. The first tenants are expected to move in by Q2 2023.

The new investment purchased by LivUp is located at the intersection of Zaczarowane Koło and Rydla Streets in the thriving Bronowice district of Kraków. The property is located only 50 meters from a tram stop, which lead to Kraków city centre in less than 15 min. The building has already achieved an occupancy permit and fit-out works are scheduled to start soon.

"The diversification of LivUp portfolio is a significant step towards the implementation of our strategy. We are happy to be able to allow more clients to benefit from a unique lifestyle city experience, long-term stability and state-of-the-art amenities and facilities – similar to the services we provide to all of the tenants in our portfolio. The success of LivUp projects confirms that the PRS sector is starting to play an integral role in the residential market and LivUp’s solutions are able to address the tenants' needs”, informs Roee Shamir, LivUp CEO.

The Kraków property has been purchased from Galinvest – an experienced developer, which has been operating in the Kraków real estate market for more than a decade.

"We are actively looking for further investment projects in attractive locations. Our company’s goal is to have several thousand apartments for long-term rental in the major regional cities in Poland. Currently, we turn the spotlight on Warsaw and Krakow, the 2 cities in which we already have a substantial operation – with approximately 800 units, but in the future, we might consider entering additional cities”, notes Roee Shamir.

LivUp is currently operating in Warsaw by offering apartments in two locations: Jagiellońska 36 and Pulawska 186 – where nearly 300 units are fully rented. Next year, LivUp plans to expend its offer in the capital with additional 160 flats in Targowa 17 property, which is scheduled to be launched in Q2/2023.