Coffee with Craig Show – daily CRE news covering the CEE region Tuesday, May 17 with Winston Norman, Editor and Chief of EuropaProperty.com.
TRI-CITY RESIDENTIAL MARKET BECOMING MORE PREMIUM
2021 brought a surge of interest in Poland’s premium residential segment. The Tri-City is emerging as the second-largest real estate market of this type after Warsaw, according to the latest report, “The premium residential market in Tri-City”, prepared by JLL in cooperation with Invest Komfort and shows that:
In Poland’s six main residential markets, upper-middle and high-end apartments accounted for 6 percent of the available offer. In the Tri-City, this share stood at 10.6 percent, the highest among the cities analysed.
Sales of apartments increased significantly in 2021, reaching nearly 3,200 units, of which as many as 900 were in the Tri-City market.
The main purchasers of premium properties continue to be a group of affluent Poles and foreigners with direct ties to Poland. People from Asia and the Middle East, who treat their purchase as a pure investment, still represent a small percentage.
Buyers’ motives include both the desire to improve their living conditions and to financially gain from short-term rentals. In recent years, there has been a marked increase in the demand for property partially driven by purchasers wanting to protect their savings from factors including rising inflation and uncertainty in the financial markets.
“The continuing attractiveness of premium real estate as a form of capital security as well as the increasing specialisation of companies that supply this type of product to the market means that more and more often decisions to purchase are made at the stage of investment implementation,” says Michał Ciomek, Member of the Management Board, Invest Komfort.
“Over the last decade, apartments prices in the Tri-City have increased from PLN 10,000/sqm in 2011 to PLN 19,900/sqm at the end of 2021. Currently, the only city to have a higher square metre price is Warsaw,” comments Aleksandra Gawrońska, JLL expert, Head of Residential Market Research.
PRIME KAPITAL OBTAINS BUILDING PERMIT FOR PLEIADES RESIDENCE
Prime Kapital, a real estate developer and investor, has received the building permit for Pleiades Residence in Ploiesti which would be the first ‘car-free’ and green project in the city and will start construction by end of Spring.
Pleiades Residence is the residential component consisting of 498 apartments and over 400 parking spaces in the multi-level exterior parking and is part of a larger urban regeneration project developed by Prime Kapital.
“We are incredibly excited to start construction for Pleiades Residence after having received the building permit for Phase 1 of the project. We remain committed to providing high-quality housing at a reasonable cost. We are confident that with Pleiades Residence we will bring a new level of housing quality to Ploiești and we want to thank all those who have already placed trust in our project,” said Maggie Kitshoff, Residential Partner Prime Kapital.
The completion date of the first phase is estimated to be by December 2023 with an overall project investment at a cost of over €30 million.
PANATTONI WELCOMES BOEING AT PANATTONI PARK RZESZÓW AIRPORT III
Boeing Distribution Services, the leading global distributor and supplier of aircraft parts and services has leased 3,000 sqm in Panattoni Park Rzeszów Airport III. The park is located at the very centre of Aviation Valley, nearby Rzeszów – Jasionka Airport.
“The business’s decision to remain in the region is also a mark of the strategic importance of Aviation Valley and of Panattoni’s foresight in developing its project here in this particular place,” says Krzysztof Głut, Leasing Manager of Panattoni.
Rafał Stępnowski, Director of Government Affairs at Boeing points out: “Poland is one of the fastest-growing locations for Boeing in Europe. BDSI moving to a larger facility demonstrates Boeing’s continued commitment to Poland and to a strong partnership with the Polish economy.”
“This region is one of the emerging warehouse markets in the country and therefore is developing very dynamically,” comments Konrad Jacewicz, Associate, Industrial & Logistics Agency, Cushman & Wakefield.
South-eastern Poland with its aviation valley has been a hub for the aviation industry for over 80 years. It is responsible for over 90 percent of the country’s aircraft production.
Panattoni Park Rzeszów Airport III is being built nearby Rzeszów – Jasionka Airport. The complex will eventually comprise over 67,000 sqm in three buildings.
POLAND’S FIRST AUTOMATIC UNDERGROUND BICYCLE PARKING LAUNCHED
Poland’s first automated underground bicycle storage system is already in operation at Warsaw’s Norblin Factory. The system has been put in place by MA-SISTEMAS, a Spanish company which has completed similar projects in Spain, Switzerland, Singapore, and Israel.
The 24-hour public underground bicycle parking facility has been designed for anyone looking for a secure place to store their bikes and accessories (e.g., helmet, basket, luggage). The system is fully automated and extremely simple to use. It is activated by a panel at the docking station which calls out a cabin. A bicycle and other items are placed in a box which is then locked and descends to a multi-storey underground car park. The process takes less than 15 seconds. Retrieving the bike is just as quick.
“Warsaw has the longest network of bicycle paths in Poland, spanning over 700 km and growing every year. Following in the footsteps of our Western neighbours, Poles are turning towards more ecological means of transport,” said Kinga Nowakowska, Member of the Management Board and Chief Operating Officer at Capital Park Group.
