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Investment volume sees slight dip

Eurobuild CEE 09 October 2019
Investment volume sees slight dip
POLAND Total investment volume in the commercial real estate market is forecasted at EUR 6.9 bln by the end of the year, slightly down on the EUR 7.1 bln of the previous year according to figures from Avison Young.

Such amount still outperforms volumes from the previous years (the closest result of EUR 4.9 bln achieved in 2017).

The biggest share in the office investment market still goes to Warsaw, where transactions worth EUR 1.7 bln had been closed by the end of September 2019. It is expected that an additional EUR 0.6 bln will have been spent by the end of the year. Among the biggest transactions in Warsaw were the purchase of Warsaw Spire by Immofinanz for EUR 386 million, the acquisition of West Station by Mapletree for EUR 190 mln and the disposal of Ethos by Kulczyk Silverstein Properties for over EUR 100 mln.

The demand for office properties has been rising. The total number of transactions in the office market is expected to increase from 39 in 2018 to 62 in 2019 and the office market’s share in total investment volume should increase by up to 55 pct. Changing shopping habits are causing investors to look more skeptically at retail assets. A total of 28 transactions in the retail market were finalised in 2018 and only 19 transactions are expected in 2019 representing a 44 pct fall in volume. The industrial sector also saw a slight decline, though this is mainly due to a shortage of product on the market.

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