The first quarter of the year in BNP Paribas Real Estate Poland was marked by internal promotions. A total of 9 commercial real estate experts who advise clients on a daily basis, working in office, industrial and logistics leasing departments, as well as in property management, investment markets and design consultancy departments, climbed a step up the career ladder.

Class A offices in Bucharest have some of the cheapest rents compared to other large European cities with strong business centres, according to a report by BNP Paribas Real Estate Alliance members. 

The warehouse and logistics space sector in Poland maintained its high growth rate in 2021. The results included, among others, record amounts of new space delivered to the market, a record number of square metres under construction, as well as a record demand. Summing up last year, experts from BNP Paribas Real Estate Poland highlight the influence of e-commerce on the situation of the whole sector, the increasing interest of logisticians, developers and investors in ecological issues. They also point out the bottlenecks such as rising construction costs, difficulties in materials supply, limited land availability and increasing shortage of qualified workers.

Experts from the consulting company BNP Paribas Real Estate Poland summed up the final quarter of 2021, regarding office space in Warsaw. The market closed the year with 325,000 sqm of new modern space, but vacancy rate are increasing, and an escalation in contract renewals is agitating the situation within the demand structure. Therefore "flexibility" has turned out to be the most important word for all market players. The authors underline that the situation in 2022 will be comparable.

In the past twelve months, retail properties have tried to make up for the challenges faced in the first year of the pandemic. Summarizing 2021 for the modern retail space sector, experts from BNP Paribas Real Estate Poland pointed to several key phenomena regarding the sector, including: a quick return of shoppers to retail facilities, retail parks standing becoming stronger, e-commerce continuing the way of the stable growth, as well as the increasingly important role of sustainable development and ESG policy.

According to a report published by BNP Paribas Real Estate Poland, around 715,000 sqm of modern office space was under construction within Poland’s eight largest markets at the end of 2021. Experts also note the further strengthening of the hybrid work model, the increasing popularity of various forms of flexible office working, and the growing importance of ESG solutions. An important factor shaping the market in the nearest future will be the rising costs of living, which will ultimately mean higher base rents and increased service charges.

Over €5.7 billion - this is how much investors spent on commercial real estate in Poland throughout 2021, of which in the last quarter alone, the amount attained over €2.2 billion. The latest report prepared by BNP Paribas Real Estate Poland indicates that the past year was marked by a further strengthening of the logistics and industrial sector, making up for losses by retail and the continued battle against Covid's shortage of breath in the office sector.

The Polish branch of BNP Paribas Real Estate represented one of the Asian clients of the BNP Group in the acquisition process of a distribution centre in Świebodzin In Western Poland, which was developed by Panattoni. The Korean fund became the new owner. The property with a GLA of 190,000 sqm is fully leased to Amazon, one of the largest e-commerce providers in the world.

The volume of real estate investments in Romania gained 4% year-on-year to €919.45 million, driven by office and industrial developments, according to a report by real estate consultancy Fortim T.A., a member of BNP Paribas Real Estate. 

108 Agency has purchased 100% of the shares of BNP Paribas Real Estate APM CR s.r.o., the Czech subsidiary of BNP Paribas Real Estate. 108 Agency was retained as preferred buyer after a competitive auction and immediately becomes the alliance partner of BNP Paribas Real Estate in the Czech Republic.