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The City - June 2013

Bargain hunters wanted

No one needs to be convinced that he property prices in the years 2006 – 2007 went up beyond reason. Few, however, expected that coming down could be so painful.

And painful it was, especially for investors who had their heads in the clouds and could afford it. A small parcel with an old tenement at Plac Trzech Krzyży in Warsaw reached an astonishing price of over PLN 30,000 per 1 sqm in 2007. After six years, the land is again for sale. Trustee is looking for interested, but now for a bit above PLN 10,000 per a sqm.

Public institutions could also profit on the real property market peak and some of them did. PKP, however, missed the chance and started to restructure its property portfolio only now. The portfolio is quite sizeable – it contains over 100,000 hectares. Will there be any interested? In the interview published in the June issue of The City we present what state railways intend to do in order to profit instead of losing on properties.

The slide down the hill has also started in the retail market. Although the sales of Silesia City Center was a major hit, the decrease of demand has become a major problem for an increasing number of developers and tenants. Diana Paszkowska, Operating Director of Centro tells us about the situation in the retail market.

On the other hand, the holiday apartment market is coming back to life. The segment, which recently could not overcame the stagnation, is starting to tempt investors once again. Some have found that it can even be quite profitable…

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