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The City - September 2015

Mature means volatile

Experts emphasise that the Polish real estate market, despite being very young, has qualities of a mature market. One could say that it is very volatile and demanding. The shopping centre market has already been saturated. Now is the time to take care for the quality. It is dominated by extensions and modernisations. Customers' expectations are growing.  What they can buy is no longer as important as how they can buy it. Shoppingis becoming more important than buying. Products without advice and shopping atmosphere can be purchased in an online store as well.

All that affects the logistics market. The share of the e-commerce industry in leased warehouse space increases hand in hand with the growing popularity of online shopping. At the same time, the share of branches such as retail chains, hi-tech and electronics is decreasing. All this results in a change in the purpose of leased space, which increasingly often is used for the needs of online sales and less often – for the needs of bricks-and-mortar stores.

The office market is even more dynamic. A tenant, who has signed a five-year lease agreement, sees so many new options after that period that the building he or she is in seems less modern.  BPO industry tenants have also higher and higher expectations concerning the location, security, technology or the social infrastructure.

There is no shortage of takers for apartments. According to the data, the demand is well ahead of the supply in this segment. The trick  is  to meet the requirements of extremely demanding and rich clients.

 

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