With regard to the industrial and logistics property market in Poland, 2014 will almost certainly be a record year to date in terms of the volume of leasing transactions concluded. Since January 2014 there has been an increase in the level of development activity, decreasing availability of vacant space as well as intensified interest in logistics properties on the part of occupiers. This excellent situation on the industrial and logistics property market results from Poland’s stable economic situation and promising forecasts for the coming years – as follows from the At a glance Industrial & Logistics Market Review Poland, Q3 2014 report compiled by the Research and Consultancy Department at BNP Paribas Real Estate.
As at the end of Q3 2014, the industrial and logistics market offered 8.5 million sq m of space in 11 regions in Poland. The largest supply of space is located in the Warsaw cluster with its total supply of space within both of its zones amounting to 2.8 million sq m, which constitutes a 35% share in the total supply across Poland.
The vacancy rate as at the end of Q3 2014 has dropped to a level of 8.0%, which, despite the high level of developer activity and the recommencement of construction of speculative developments, is a very good result. The highest volume of available space is located around Toruń and Bydgoszcz, where the vacancy rate is at a level of 24%. Furthermore, there is a relatively high vacancy rate in the Warsaw I, recorded at 14%. The Szczecin market continues to have no supply of available space.
Having analysed the first three quarters of 2014, it can be concluded that following a surgent 2013, we are now dealing with a strengthening trend in terms of development on the industrial and logistics property market. Stable economic growth, improved infrastructure, investors’ readiness to tackle speculative developments as well as strong demand on the part of occupiers are only some of the factors resulting in the dynamic development of the logistics market – comments Anna Staniszewska, Head of Research and Consultancy CEE at BNP Paribas Real Estate.
Asking rents on the majority of markets remain stable, which results from the balance between supply and demand. The Warsaw I zone continues to record the highest rents at a level of EUR 5.0 per sq m per month, while the lowest rents are within the Central Poland region, i.e. EUR 2.4 per sq m per month.
dostarczył infoWire.pl
