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The City - May 2015

Appetite for real estate

The real estate market in Poland has definitely matured. Tenants can choose between numerous assets – existing, in the pipeline or under development. It is not surprising then, that only the prime, best-planned and carried-out investment projects stand a chance for full commercialisation. Also, older, but well-located buildings offering development potential have the second chance. It is not always necessary to demolish them, as illustrated by the number of extensions and modernisations. We talk to practitioners about the real estate market prospects and opportunities in the articles entitled A dream about retail in the streets, Apetyt na nieruchomości, and A glass half full.

As it usually happens, the appetite grows with what it feeds on. We want to do better and we see that there still is a lot to do in the market. In this issue we analyse the local spatial development plans. It turns out that only 1/3 of investment projects are developed in line with effective local spatial development plans.  The remaining projects are built on the basis of a land development conditions decision (Wyjątek stanowi regułę). There is also a lot to do in the field of high streets, which still require long-term strategies and professional management.

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