Due to the recent growth of interest in online shopping driven by the coronavirus pandemic, a leading logistics operator in Poland has decided to expand its warehouse footprint by leasing 15,000 sqm of temporary space in Prologis Park Piotrków Trybunalski I. Savills assisted one of e-commerce leaders in Poland in the leasing process.

The industrial sector is considered one of the most resilient to the negative economic consequences of the Covid-19 outbreak as it benefits from the growing popularity of online shopping, especially in recent weeks. Although there is not much difference between market data for Q1 2020 and Q1 2019, opportunities and risks for the logistics sector resulting from the current situation will not be known until later months, depending on how the pandemic unfolds, according to Savills.

In its latest global sentiment survey among its researchers around the world of the impact of Covid-19, Savills says that the outlook has improved slightly, with 19% of countries reporting a severe negative impact on their real estate markets due to the pandemic – an improvement compared to 29% in its previous survey conducted on 31st March - and 74% describing a moderate negative impact (opposed to 67% at end of March).

The coronavirus pandemic has had a relatively benign effect on the Q1 2020 Warsaw office market figures, according to the latest Savills research. However, tenants already started to optimize costs which soon may increase the number of lease renewals and subleases. Companies will look for more flexible lease terms and cost-effective locations.

OKAM Global Commercial, a new commercial real estate company founded by residential developer OKAM Capital, has appointed Savills as property manager for its recently acquired office building at 16 Lindleya Street in Warsaw.

With a total volume of approximately €120 million in the first quarter, the Romanian investment market had a similar start compared with the same period in 2019, when the volume of transactions was €117.5 million. An optimistic scenario puts the total volume of investments for 2020 at €750 million, while a pessimistic one somewhere at €500 million. Crosspoint Real Estate has issued its latest market report on the Romanian real estate market’s performance.

In its first of a series of global sentiment surveys, Savills has assessed the initial impact of COVID-19 on transactional and occupier markets around the world, with 67% of countries currently reporting a moderate negative impact, and 29% citing a severely negative impact.

The COVID-19 pandemic is hitting the global economy hard, with all real estate sectors in the Czech Republic affected to varying degrees. But in the subsequent low interest rate environment, Czech real estate as an asset class should continue to offer superior returns, according to the latest research from Savills.

Savills has entered into a partnership with the owner of Vipol Plaza and has been acting as a sole letting agent for the office complex since early 2020. The property is located near the new section of Warsaw’s second metro line.

According to new data from Savills, Rotterdam is the most attractive port in Europe for logistics investment, coming in ahead of Barcelona, Valencia, Antwerp and Hamburg. Gdańsk, the largest seaport in Poland and one of the key container terminals in the Baltic Sea, may soon become one of the most modern in Europe thanks to Central Port project planned.