Companies have signed more new leases agreements and are keen to use ''flex'' spaces before taking up their target office space. The decreasing activity of developers has helped to stabilise the vacancy rate q-o-q, but its high level poses a challenge for landlords. JLL summarizes the Warsaw office market at the end of Q3 2021.

Urszula Kowalska, Krystyna Pietruszyńska and Patrick Pospiech were appointed directors in JLL’s Living Investments department at the beginning of October and, with the support of Paweł Sztejter, Head of JLL Living, they will focus on developing transactional and development advisory services on the Polish residential market.

The sector is seeing a recovery following the reopening of the economy. However, a change in the structure of retail formats continues. Increased developer activity will translate into over half a million sqm of new supply by the end of the year.

Luxury apartments are still less than 1% of the primary market in Poland, but their popularity among buyers is growing. Since the beginning of 2020, the average quarterly sales volume in this segment is double the number set between 2017 and 2019.

Advisory company JLL will be responsible for co-creating and implementing the leasing strategy for Ghelamco's Craft office building in Katowice.

CPI Property Group signed framework agreements with advisory company JLL for comprehensive project management services in 13 office buildings in Warsaw. The total GLA that the cooperation encompasses is approximately 320,000 sqm. The JLL Project & Development Services team will be responsible for the implementation.

Although the Polish retail market is still struggling with the effects of the COVID-19 pandemic, forecasts for the sector are more optimistic than for the rest of Europe. According to Oxford Economics, retail sales in Poland are expected to grow by 4.9% per annum until 2023, which would put Poland in a leading position in Europe. 2021 is expected to see approximately 209,000 sqm of GLA solely in retail parks come onto the market, meaning that 2021 would be a record breaking year for retail parks in terms of space delivered to the market. JLL and Trei Real Estate Poland, the authors of the 2nd edition of the "Retail parks and convenience centers in Poland" report, summarize the market regarding these projects at the end of H1 2021, and outline the development prospects for this sector in Poland.

The BSS sector is driving growth in Polish cities and dominates the regional office landscape. Companies from this sector account for more than half of leased space outside of Warsaw. The first half of 2021 saw companies from the modern business services sector (BSS) lease nearly 210,000 sqm of office space in Poland. This is more than 40% of the total demand registered in the country’s major markets. Excluding Warsaw, BSS companies accounted for as much as 60% of office demand

Demand for warehouses at 3.15 million sqm and new supply at 1.14 million sqm set new H1 records for the industrial market. Poland registers Europe’s second-highest developer activity with over three million sqm under construction. JLL summarised Poland’s industrial market for H1 2021.

Zeitraum, an international operator of student housing schemes, has just taken over the management of its first dormitory in Poland as Zeitgeist Asset Management, an investor operating on the Polish market for several years, finalised the purchase of a privately-run student hall located in Kraków from NNS. The asset is located at 33 Koszykarska Street and has been operating under the Unibase brand for three years. It can accommodate 345 people in 157 rooms. The first students will move into the building in September. JLL experts supported the investor in the purchase of the asset.