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Commercial property market stabilization points to a brighter future
Despite persistently high interest rates and geopolitical tensions, growing investor interest - particularly in retail assets - is a sign of stabilization and a forthcoming recovery later in the year, says BNP Paribas Real Estate Poland in its latest report “At a Glance: Investment Market in Poland” for the second quarter of 2024.
A good Q2 2023 for the office sector in Warsaw
The report’s authors also note that despite renewed construction activity and new starts, developers remain cautious about commencing projects.
RETAIL MARKET SEES GROWTH
The Polish retail market ended the first half of 2023 strongly, with its total stock amounting to 15.9 million sqm. In the past quarter, 66,000 sqm came on stream across Poland, bringing total new retail supply for January-June 2023 to 150,000 sqm.
BNP Paribas REIM presents its outlook of the European property market
European real estate markets are still responding to the new environment implied by higher financing costs and the pricing adjustment that started at the end of 2022. Investors are waiting to see where financing costs are heading and how prices react.
Warehouse completions hit an all-time high, pushing vacancy rates up
At the end of the first quarter of 2023, there was more than 2.1 million sqm of modern warehouse, logistics and industrial space under construction, down by around 1.25 million sqm compared to the fourth quarter of 2022.
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