2024-03-25-莱坊-Kraków_-_Real_Estate_Market_2024_11页_8mb

总结

About Krakow: Krakow is Poland's second-largest city by economic significance, with a population of 1.6 million in the metropolitan area. It features a strong innovation hub status, a UNESCO City of Literature, and significant academic and industrial assets. Infrastructure includes the new MDC2 Park and investments aimed at enhancing logistics and sustainable developments.

Office Market: The market is the largest regional market in Poland, situated at 1.81m sq m. Vacancy rate stands at a low 19.8% (projected decrease by end of 2024). Rents range from EUR 10-16/sqm/month in prime locations, slightly lower elsewhere. Rental prices equating to service charges pose financial strain on tenants. Developers are cautious due to rising vacancy and construction loan costs. Key transactions are still prominent in prime assets.

Retail Market: Vacancy is very low at 1.7%. Premium locations (fashion units) command rents of EUR 30-75/sqm/month. Developers focus on smaller cities where saturation is lower. Demand remains high despite inflation, attributed to strong consumer spending and low unemployment.

Warehouse Market: Vacancy is very low at 2.4%. Strong demand drives prices (EUR 3.50-6.00/sqm/month). Development is constrained by land costs and proximity to logistics networks. Green standards (ESG) are increasingly incorporated. Key investments are ongoing near airports and terminals.

Hotel Market: Krakow boasts the highest number of luxury/small hotels in Poland and leads in tourist overnight stays. High occupancy (68% in 2023) is supported by tourism and MICE events. Despite strong demand driven by niche tourism, occupancy rates have faced pressure due to higher operational costs. New supply adds 340+ rooms (including 2-star facilities), but yields decreased due to inflation for prime locations. High service charges combined with rising operating costs challenge the sector.

Living / Residential Market: The residential sector is transitioning towards specialised PRS, with new supply and falling vacancy. However, competition from low-cost rentals driven by limited purchase availability (mortgages, prices) and dense demand. Student housing (PBSA + dormitories) is expanding rapidly, with yield decreases, marking one of the best periods for this sector. The stock is primarily focused on young university populations (vacancy rate as low as 0.14%).

Investment Market: Total commercial investment in Poland fell significantly in 2023 due to high financing costs, liquidity issues, and risk tolerance. Krakow saw transactions totalling EUR 80.4m (near record share in terms of value). The logistics/warehouse sector remains the most liquid segment. Yields are increasing across all commercial markets. Residential and student housing investment are showing resilience.

Summary sourced from "Krakow Real Estate Market".