The end of the year for retail real estate in Poland was marked by a rise in inflation and the various consequences that followed it, increases in energy prices and the effects of the war in the Ukraine. Analysis of shopping behavior showed that Poles have not turned their backs on e-commerce, the trend for shopping in retail parks continues, and discount brands are pushing harder and harder into the market. In the cyclical report, BNP Paribas Real Estate Poland experts forecast that this year will be marked by, among other things, modernization of older facilities and growing popularity of mixed-use developments.
The picture of the market in the past year was strongly shaped by factors related to the war, multiple increases, as well as the continuing global effects of the pandemic. These did not make the decision to launch new investments any easier, and some were put on hold. Rising costs are that the factor which will have a key impact on the commercial market this year. Expensive construction, expensive operating costs and record utility rates will be reflected in rising rents. We estimate that after indexation, charges will rise from 7% to 9% at one time, a tough nut to crack for many tenants
says report author Klaudia Okoń, consultant, Business and Intelligence HUB, BNP Paribas Real Estate Poland.
Not seen for long time purchases of large centers have returned. Forum Gdansk was sold for €250 million, the largest transaction involving a retail property in Central and Eastern Europe. NEPI Rockcastle, the new owner of Forum, also managed to buy Toruń's Atrium Copernicus center for 127 million euros that year. This is the fund's thirteenth facility in Poland
says Fabrice Paumelle
In addition, FREY signed an agreement with Ingka Centers to buy the Matarnia retail park in Gdansk for €105 million.