ARTICLES LABELLED WITH TAG Walter Herz

Walter Herz has launched a new department specialized in the high-end residential segment in Poland, which will be led by Katarzyna Goryszewska as Head of Luxury Residential Agency.

In the upcoming years, administrative institutions and state-owned companies in Poland will actively influence the evolution of the national office market—not only through leasing office space. The State Treasury will play a significant role as a key player in the investment sphere by modernizing, acquiring, selling, and constructing office properties for its own needs. In the upcoming years, administrative institutions and state-owned companies will actively influence the evolution of the national office market - not only through leasing office space. The State Treasury will play a significant role as a key player in the investment sphere by modernizing, acquiring, selling, and constructing office properties for its own needs, claims Watler Herz.

Global economic transformations are impacting how companies operate and how workplaces are designed. The latest report developed by Walter Herz in collaboration with experts from Workplace, ISS Polska, DECISIVE Szmigiel, Papros, Gregorczyk, and Brill AV Media, outlines the leading trends shaping the development of the office market in Poland.

Recently, there has been significantly more activity in the Warsaw office market compared to regional markets, both in terms of demand and new investments. As of last year, the demand for office space in Warsaw has increased, while overall demand has decreased in the region. There are also more vacancies in the regional markets, says Walter Herz.

The value of investment transactions in all real estate market sectors, both in Poland and Europe, still significantly deviates from the scale of investments recorded before the outbreak of the pandemic. Nonetheless, last year saw the first signs of recovery in the hotel segment. The sale of the hotel part of The Warsaw Hub by Ghelamco signalled a return to investing international capital in the Polish market. In October last year, the Crown Plaza and Holiday Inn Express hotels were acquired by the French investment fund Corum. 2023 saw a total of four transactions, partially carried out by Polish investment entities, contributing to investments totalling around €83 million in this sector. In the first months of the current year, two hotels along the Baltic Sea changed hands. Walter Herz summarised the situation in the Polish hotel market.

Demand for offices in Poland remains high, but there is the least amount of space under construction in over a dozen years. The office real estate market is changing more and more, says Walter Herz. 

Advisory agency Walter Herz is expanding the scope of consulting services and branching out with a new business line - Walter Herz Invest. The entity is responsible for purchasing and securing real estate and land for the construction of projects in the commercial, warehouse and residential sectors.

Interest in leasing offices in Poland is growing. In the third quarter, both in Warsaw and on the regional markets, the demand for office space was the highest this year. In the regions, 2023 will close with a result similar to the record from 2019. 

Investors in Poland are looking for market opportunities and value-add assets. Companies are optimizing their portfolios by putting up for sale properties that do not fit their new investment strategies, says Walter Herz. 

For many real estate market leaders who came to Expo Real 2023, it was an opportunity to look for new investment opportunities in the face of more difficult macroeconomic and economic conditions in the world. Experts from Walter Herz advisory agency share their insights on the current situation in the Polish property market.