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Rents go up across CEE

Rafał Ostrowski 14 August 2019

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

EUROPE Office, retail and logistics rents increased in the second quarter of 2019 across the CEE region, according to the DNA of Real Estate report by Cushman & Wakefield.

Office rents grew by 0.6 pct q-o-q and 1.7 pct y-o-y. Rents for high street stores stayed level compared to the previous quarter but increased 2.7 pct anually. Logistics rents were up 1.8 pct q-o-q and 4.6 pct y-o-y.

Prime yields compressed y-o-y by 29 bps to 5.14 pct in the office sector and by 10 bps to 5.33 pct for high street retail. Logistics prime yields compressed to 6.50 pct by 45 bps.

“The CEE markets have seen sustainable office rent levels while the retail and logistics sectors continue to demonstrate rental growth in core locations. CEE prime yields have seen the strongest compression in Europe, q-o-q and y-o-y, save for the Benelux region but still offering a discount compared to core markets. Looking ahead, we expect further yield compression for the Warsaw office market and for Polish prime logistics assets,” said Soren Rodian Olsen, the head of capital markets in Poland at Cushman & Wakefield.

In Poland, prime office yields are at 4.75 pct (down. 25 bpss). Retail high street yields are at 5 pct (down 25 bps), while logistics yields are at 6.25 pct (down 50 bp).

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