Cushman & Wakefield, a commercial real estate company, released a research publication concerning the Polish real estate market “Marketbeat Poland – Autumn 2011”. The report resumed, among others, the situation on main country’s office markets in the first half of 2011. These are facts and figures relating Katowice.
Prime office stock in Katowice is estimated to total around 267 500 sq.m. which places the City as the fourth biggest regional office market in Poland. In the first half of 2011, only the 4 800 sq.m. of the completed Steel Office (Opal) project came on stream. Some 13 670 sq.m. is under construction in four projects, of which about 46% will hit the market by the end of 2011. The Silesia Business Park I (Skanska Property Poland) and Piaskowa Business Center (Secus Property SA) have building permits for a total of 20 622 sq.m.
Transaction volume in the first half of 2011 totalled 23 790 sq.m, new agreements made up 52% of this total. The largest transaction in the first half of 2011 was the renewal of Capgemini’s lease of 5 700 sq.m in Altus. Limited supply and growing occupier interest pushed vacancy rates down to 15,2% at the end of the first half of 2011, from 17,3% at the end of 2010. Asking rents remain at EUR 12-15/sq.m./month.
source: Cushman & Wakefield