The total value of transactions on the domestic investment market at the end of 2017, taking into account the acquisitions completed in the first nine months and the estimated value of transactions in progress, may be about 15% higher from the record EUR 4.5 billion last year. The EUR 2.3 billion generated during the first three quarters of 2017 was lower than the value of the transactions completed in the corresponding period of the previous year, however the authors of the report believe this was caused e.g. by new regulations concerning the tax classification of agreements that prolong the decision-making process and the time needed to prepare and complete a transaction.
Recognized popularity of offices and regions
The position of regional office markets is constantly improving due to strong demand from modern business service centres which create high demand for modern office space. Looking at the supply of new space and the level of space leased, the supply-demand situation in the regions is seen as stable, which is advantageous to developers active there. Hence a good selection of products that meet the investors’ criteria
Patrycja Dzikowska, Head of Research and Consultancy, CEE, BNP Paribas Real Estate Poland
The investors’ increased interest in top-quality office products in the regions entails reduction in the capitalization rate for prime real estate on Warsaw’s market and the individual regional markets
Piotr Goździewicz, Director, Capital Markets, CEE, BNP Paribas Real Estate Poland
In search of logistics opportunities
We are observing the continued interest of investors in purchasing warehouse properties, however the fact is that the supply of ready-to-sell facilities is very limited. Hence, many transactions in the warehouse segment are of the forward-funding and forward-buy type, which is not always reflected in the volume of transactions completed in this segment
John Palmer, Director, Capital Markets, CEE, BNP Paribas Real Estate Poland