ARTICLES LABELLED WITH TAG BNP Paribas Real Estate

Despite persistently high interest rates and geopolitical tensions, growing investor interest - particularly in retail assets - is a sign of stabilization and a forthcoming recovery later in the year, says BNP Paribas Real Estate Poland in its latest report.

At the end of the second quarter of 2024, more than 40% of offices in the oldest office buildings in Poland’s regional cities remained vacant, with their office markets experiencing stable vacancy rates and subdued development activity, reveals BNP Paribas Real Estate Poland in its latest report.

New office projects with a combined leasable area of nearly 64,000 sqm were completed during H1 2024, with the volume soaring almost three-and-a-half times compared to the same period of 2023, according to a BNP Paribas Real Estate report.  

Around 135,000 sqm of modern retail space was added to Poland’s total stock in Q2 2024, with new supply comprising both new openings and extensions, while the end of H1 2024 the development pipeline amounted to around 335,000 sqm, according to a report by BNP Paribas Real Estate. 

With 2.32 million sqm of industrial and logistics space under construction, Poland is the top European market for development activity, says the latest quarterly report from BNP Paribas Real Estate Poland.

Only 31,000 sqm of new supply was delivered through two projects during the three months to March 2024, bringing the combined office stock of Poland’s eight largest regional cities to 6.7 million sqm at the end of the first quarter, say BNP Paribas Real Estate experts. The new completions were Echo Investment’s Brain Park C (13,000 sqm) in Kraków, which is the second largest office market in Poland after Warsaw, and Cavatina Holding’s Quorum Office Park A (18,000 sqm) in Wrocław – the third biggest.

BNP Paribas Real Estate Poland presented a summary of the opening months of 2024 in the Polish capital. 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.

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, say BNP Paribas Real Estate experts in their latest report. 

Demand and supply slowed during the last quarter but remained relatively strong, reveals the latest report 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, 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.