ARTICLES LABELLED WITH TAG Walter Herz

In the first half of the year, investors were as eager to locate capital in Central and Eastern Europe as in Western real estate markets. However, global economic changes and the uncertainty they bring mean that investment decisions are now more and more often withheld. According to Walter Herz advisers, the annual results may not be as good as the six-month results.

The resources of the PRS sector in Poland are growing. Last year, almost one in five apartments was built for institutional lease, which also had a significant impact on developers' results. According to Walter Herz, in 2021, investments in portfolios of residential for rent in Poland amounted to approximately €725 million. There are already almost 8,000 units on the Polish market offered in the PRS segment and other several tens of thousands of apartments under construction.

Companies are returning to stationary work, although it is not so easy for people to go back behind their desks, according to Walter Herz.

Investors and clients in Poland are focusing on local shopping centres, says advisory firm Walter Herz. 

According to Walter Herz, the beginning of the year brought a revival in demand for offices. Katowice now has a larger offer than Poznań and rental rates for the best space in Warsaw have increased.

Consulting company Walter Herz has been selected as the sole agent responsible for the commercialization of space in the Blue Office complex, which is a complementary office part of Blue City mall in Warsaw.

The record demand for warehouse space, reported last year, continues. There are no vacant warehouses, despite the fact that the largest amount of logistics space in the history of Polish market is currently under construction.

There are still fewer leased and built offices than two years ago, but there is an upward trend in the office sector. Last year, some regional markets saw a sizable increase in demand, even compared to 2019, Walter Herz reports.

The growing interest in domestic tourism is conducive to the development of accommodation facilities in resorts. Interesting city hotels are also opening. The current year should bring stabilisation in the hotel industry as more countries move from treating COVID as an endemic rather than a pandemic, says Walter Herz. 

Commercial real estate market in Poland has come a long way since the spring of 2020. Never before have so many changes been made in such a short time. Adaptation to new conditions turned out to be the most difficult for hotels and retail. For the warehouse market, in turn, the reshuffling of sales and deliveries became a springboard for a series of records. The offices returned in a new form. Nowadays, the new trends that will shape the market in the upcoming years, lead the way for the real estate sector. Experts from Walter Herz consulting company comment on what is changing.