Michał Okoń, Managing Director of Zeitgeist Asset Management in Poland talked to Property Forum about the forecasts for the PRS market in Poland, subscription services and the impact of the pandemic on the rented apartment segment.
New research released by JLL shows that the investment allocation to living assets is set to grow throughout 2021, following the robust performance of the market throughout 2020, which resulted in €83.4 billion being invested into the sector. 59% of investors set to increase investment allocation to European Living assets in 2021, but nearly 80% highlight lack of suitable product as a main barrier to investment.
The total stock of purpose-built student accommodation (PBSA) in Prague exceeds 28,400 beds. 91% of these capacities are in the ownership of universities and the remaining 9% is provided by the private sector, according to the latest Savills “Student Housing in Prague” report.
Multifamily investment has proven to be the most resilient real estate sector in Europe during 2020 and the new core, with a 6% increase year on year and a 17% increase on the past 5-year average, according to Savills.
Swedish company Heimstaden, the third-largest provider of rental housing in Europe, continues its investments in housing in the Czech Republic. The company, which bought Residomo with 42,500 apartments mainly in the Moravian-Silesian Region last year, is now expanding its portfolio with a €22.7 million acquisition in Plzeň from Czech developer Daramis. The new assets include 226 flats and 5 non-residential premises.
Warsaw is one of the top ten cities for data centre development in the category of power cost and environmental risk, reveals a new report from Cushman & Wakefield. In addition to Warsaw, the top ten markets for data centres by industrial power cost include Montreal, Reykjavik, Johannesburg, Portland, Vancouver, Salt Lake City, Dallas, Atlanta, and Seattle, with some focusing on the use of renewables, thereby offering the lowest costs in the long term.
The development of the Private Rental Sector (PRS) in Poland could have been faster, but it is constantly being slowed down by high demand in the residential market. Developers are not interested in selling the whole building to investment funds, because margins and profits are bigger with sales to individual buyers. However, their faith in high returns and great growth potential of Polish rental market is shared also by developers, which are constantly coping with a lack of good plots permitted for residential development in spatial plans. And buildings with services, like senior and student housing or apartments to rent as a service can be constructed almost everywhere.
Operational residential investment (which comprises multifamily, student housing and senior living assets) accounted for 27% of global real estate investment in the first three quarters of 2020, up from just 16% a decade ago, according to the Savills Global Living Report 2020.
Industrial developer Contera has concluded a contract with Pilsner Urquell for warehouse space measuring 3,676 sqm at Contera Park D1 in Ostrava-Hrušov.
108 Agency has helped secure the lease of 1,600 sqm of industrial space to comic book publishing house Seqoy in Panattoni Park Prague Airport II.
M7 Real Estate has announced that it has let a total of 1,605 sqm in Mokotów Plaza to three existing tenants (KDI, Rockwool and Telepizza) under new leases, maintaining the office building as their Polish headquarters. The office now has an occupancy of 81% with an average unexpired lease term of over 7 years.
Jan Kamoji-Czapiński has joined Colliers' EMEA Location Strategy department, which was launched earlier this year. Jan took up the position of Associate Director and will be responsible for, among others, supporting companies in the development and implementation of location strategies.
Prologis Hungary has appointed Adrián Nagy as Facility Manager. Adrián gained a wealth of experience in the real estate, technical and construction sectors while working for BIS Hungary Kft. At Prologis, he is taking on management responsibilities and will report directly to Szilvia Andrelli, Senior Manager for Real Estate & Customer Experience.
Gábor Gratzl has reinforced the WING team as Business Development and Transaction Manager since February 2021. Prior to his current position, he worked as a senior investment advisor for the CBRE Hungary Capital Markets Consulting team for more than five years.
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