ARTICLES LABELLED WITH TAG PRS

AFI Europe has completed the rough construction of an apartment building in the newly built AFI City district in Prague 9 - Vysočany. A total of 640 apartments are being built on a brownfield site near the Kolbenova metro station, exclusively for rental housing in two separate buildings, which will also include commercial space for shops, services and a restaurant. The construction of the first of them, with 313 units, has just moved towards completion and is successfully heading towards completion in Q4 2022.

Resi Capital S.A., a company belonging to Cavatina Group, wants to deliver 2,200 apartments for rent in Katowice, Krakow, Łódź and Wrocław by 2023. The Quorum investment in Wrocław and WIMA Widzewska Manufaktura in Łódź are already under construction. Bank Pekao S.A. has just granted Resi Capital financing exceeding PLN 160 million in the form of loans for the realization of these housing projects.

Dorota Wysokińska-Kuzdra, Senior Partner, Head of Corporate Finance and Living Services for Central and Eastern Europe at Colliers talked to Property Forum about the rapid development of the PRS market and the current state of affairs on the residential market in Poland.

Residential investment sectors are gaining traction across Europe, with the volume of capital targeting student accommodation, the private rented sector and purpose-built age-targeted housing continuing to rise, according to Knight Frank’s European Residential Investment Survey 2022.

Dariusz Węglicki, Country Manager of Catella Residential Investment Management talked to Property Forum about the attractiveness of Poland for PRS investors, luxury rental projects and private student housing development.

Hungary-based residential property developer Cordia is continuing its expansion in the UK residential property market. Its local subsidiary is building a complex of 366 rental apartments, bringing the total number of homes planned for the West Midlands region to over 1,800.

The construction of over 800 living units has started at the intersection of Postępu and Domaniewska Streets in Warsaw. The project has been developed by YIT for the leading Nordic real estate investor NREP. Unibep has been chosen as the general contractor. Smartti Mokotów will be the largest professionally run lease facility in Poland.

Hungary-based Alfa Group is entering the dynamically growing private rental sector (PRS) and will deliver the second and third phases of its Ha11er residential project in District 9 of Budapest with apartments for rent. Residential-for-rent is an already well-established market segment in Western Europe that has attracted significant interest from institutional investors. This is increasingly true for certain CEE countries as well, such as Poland or the Czech Republic, but in Hungary, Alfa Group is entering the PRS market as one of its pioneers.

Rising construction costs and strong demand from investors are at play, of course, but the picture is a lot more complicated than that. Players of the dynamically growing private rental sector (PRS) discussed market trends at Living Investment Forum 2021, Property Forum's annual event in Warsaw. 

Resi Capital, PRS subsidiary of Cavatina Holding has bought an 11,590 sqm plot located on Tuwima Street in the New Center of Łódź area (Nowe Centrum Łodzi). JLL advised the vendor during this transaction.