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.

London & Cambridge Properties (LCP) has completed the purchase of a retail park in Strzelce Opolskie, Southern Poland. It is already the 64th convenince store in the group's investment portfolio.

HB Reavis has delivered the campus-style buildings of Forest, a project focused on incorporating natural elements and greenery into the urban scape of Poland's capital. Along with it, the company topped out the 120-metre-tall Forest tower.  

Residential developers operating in Poland's largest markets broke the quarterly sales record set in 2017. Sales of new apartments reached 19,500 and were up 40% q-o-q. Continued demand oversupply is pushing prices up further. 

Over the year, since the COVID-19 pandemic arrived in Poland, the Warsaw office market has seen a marked decrease in occupier demand and office stock under construction amid rising vacancy rates. Although the past 12 months have been challenging for the office sector, companies are no less keen to have an office of their own, says real estate advisory firm Savills.

Construction of two 95-metre Towarowa Towers located on Prosta Street in Warsaw's city centre is starting. It is another investment by Asbud Group near Daszyńskiego Roundabout.

Panattoni Europe has obtained an ‘Excellent’ rating under the BREEAM International New Construction system for Panattoni Park Sosnowiec I. This is the first time such a high certification level has been achieved on the Polish industrial real estate market for a newly built project.

After a year from the beginning of the pandemic, investors are continuing their strategies adjusted to the new market conditions. Most of them are focusing mainly on safe, predictable investments. This year Avison Young has observed the third-best opening ever with almost €1.3 billion transacted in 31 deals during the first quarter of 2021.

The Q1 2021 results of the RICS Global Commercial Property Monitor indicate a slightly less negative market sentiment across Europe compared to the previous quarter. Rental growth expectations remain negative within the office and retail sectors across all European nations covered, while the outlook for industrial markets has never been more positive.

Growthpoint Properties Limited, the European Bank for Reconstruction and Development and Oak Hill Advisors responded to the unilateral announcement by CPI Property Group and Aroundtown of a firm intention to make a cash offer for the share capital of Globalworth.