Nikodem Iskra, CEO of Murapol, one of the largest residential developers in Poland, believes that in 2021 the residential market will shake off the effects of the pandemic. He foresees further increases of apartment prices – in his opinion record-low interest rates are not only stimulating the mortgage market, but are also a strong impulse for investment activity

In 2020, demand for office space in regional cities was 16% lower compared to 2019, the vacancy rate increased by 3.2 pp and the volume of office space under construction is at its lowest in about five years. Advisory firm JLL summarizes the situation in the Polish office market at the end of 2020.  

Resi4Rent, the largest private company with subscription-based apartments, has expanded its offer by nearly 230 units in Warsaw. The first residents have just moved into the project located in the heart of Mokotów business district.

Ghelamco has started preparations for the construction of The Bridge skyscraper. The building will stand at the intersection of Towarowa and Grzybowska streets, next to Plac Europejski (European Square) in Warsaw.

MLP Group has commenced a project to revitalise the first mid-urban business park in the city of Poznań. The largest of the seven renovated facilities has been leased by a distributor of household appliances and consumer electronics. The renovated facility, with a total area of 12,000 sqm, will be available for occupancy in the fourth quarter of 2021.

Finnish developer YIT has been awarded a construction permit for a mixed-use complex next to the European Solidarity Centre in Gdańsk.

Privately owned real estate developer Acteeum is preparing to launch the development of a new retail park named Ostróda Power Center in Poland’s Masurian region.

GLP, an investor and developer of logistics buildings and warehouses announced plans to introduce its ESG-focused European specification, as outlined in its best-practice European Design Guide, to all new logistics facilities in Poland.

COVID-19 has had a great impact on the economy as well as consumers’ behaviour, which has naturally influenced the property market. Pandemic unexpectedly accelerated changes noticed for the last few years, such as the diminishing role of traditional shopping centres in favour of convenience retail, the boom of e-commerce market or working from home. According to Avison Young, investors have quickly accommodated to new conditions and even despite many uncertainties, investment volume has achieved third-highest level in the history – €5.3 billion.

Skyliner, one of the highest office towers in Warsaw developed by Karimpol, has obtained an occupancy permit. The skyscraper was designed by APA Wojciechowski. Tenants will start moving into the building in the first half of 2021.