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Poland : Positive outlook - Q4 2013

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Poland : Positive outlook - Q4 2013

Key indicators of the global economy, published by Oxford Economics, confirm an improvement of the economic activity in the euro zone, including Poland. In the whole of 2013 the Polish economy expanded by 1.4% y-o-y.

The volume of new deliveries on the Warsaw office market was close to 300,000 sq m, which is the highest level observed since 2000 and the total take-up (sum of all lease transactions) reached a record-breaking value of 630,000 sq m.

Throughout 2013 the supply of modern retail space totalled over 690,000 sq m, which accounts for 128% of new stock completed in 2012. Nearly 70% of the annual supply was delivered in large agglomerations, which is the highest proportion since 2003. In 2013 over 50 brands started operations in Polish shopping centres, indicating the continued attractiveness of the market.

After the delivery of 372,000 sq m in 2013, the total amount of modern warehousing space in Poland reached 7.7 million sq m. The interest in Poland from international logistics operators has been constantly growing. Taking into account the new supply as well as space under construction in 2013, the largest developers’ activity was recorded in Silesia, Poznań Region and Central Poland. The market is still dominated by BTS and pre-let agreements.

Source : DTZ (Groupe UGL)

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