Real-estate market
10.03.2010
Office market
Kraków and its surroundings constitute one of the most highly developed regional office markets in Poland. The total office stock is approximately 234,000 m². In 2008 developers delivered over 33,000 m² of office space. Furthermore, over 152,000 m² is currently under construction, of which 79% should be completed in 2009. As a result, office stock in Kraków should increase to 354,000 m² by the end of 2009.
Kraków and its surroundings currently have one of the lowest vacancy rates in Poland ‑ the availability of office space for rent is limited and the new office buildings, which are to be completed and delivered in 2009, are almost 100% preleased. Although Kraków and its surroundings are the most popular locations for office-centre development, office buildings are also starting to be developed in towns such as Zabierzów (Kraków Business Park). The monthly weighted average rent per square metre of available office space at the end of 2008 amounted to 16 Euro per square metre per month. In certain office buildings where space is currently available, monthly rents vary between 14 and 19 Euro per square metre.
- Investments that are planned or under construction in Małopolska: more
Retail market
At the end of 2008, the gross leasable area in Kraków amounted to around 427,500 m² and constituted 9.4% of the total leasable space in Poland’s eight major cities (Warszawa, Trójmiasto, Poznań, Wrocław, Szczecin, Katowice, Łódź, and Kraków). In 2008 the saturation of retail space for lease in Kraków was one of the lowest among the eight major regional cities – saturation reached a level of 559 m² per 1,000 inhabitants. The Bonarka City Center project in Kraków, which is currently under construction but scheduled for completion before the end of 2009, will deliver some 87,000 m² of retail space.
There is approximately 85,500 m² of leasable retail space, which is currently at the planning stage. This includes three investments scheduled for completion by the end of 2012. Monthly rates for prime units (100-150 m²) in the best shopping centres vary from 60 to 70 Euro per square metre.
- Investments that are planned or currently under construction in Małopolska: more
Warehouse market
At the end of 2008 there was only 41,500 m² of total warehouse stock in Kraków and its surroundings – this included the Panattoni Park Kraków (in Skawina) project. The warehouse pipeline in Kraków and its surroundings is estimated at approx. 215,000 m². In 2009 150,000 m² of warehouse stock is planned to be completed and available at the Cracow Airport Logistics Centre – Goodman Poland. Monthly rates vary from 4 and 5 Euro per square metre.
- Investments that are planned or currently under construction in Kraków and its surroundings: more
The article from Doing Business - publication prepared by: PriceWaterhouseCoopers in the cooperation with MARR