Krakow, 11 April 2012 — the City Strategy and Development Department of the Municipality of Krakow has issued a report on the commercial real estate entitled „Krakow Real Estate Market 2011”. The publication was prepared in cooperation with the leading advisor in the commercial real estate market Colliers International Poland.
The report by the Municipality of Krakow presents the outcome of the research on the four commercial real estate sectors: office, industrial, retail and hospitality. The sectors were analyzed in terms of supply, demand, rental rates and vacancy. Additionally, the report compares the data for Krakow with other regional cities to show its potential from wider perspective. The document also includes the forecast for 2012. “It is the next edition of the series of reports published so far by the Municipality of Krakow in cooperation with Colliers. Both investors and developers are very much interested in this publication, which proves the unabated attractiveness of the city. Real estate market in Krakow is one of the fastest developing in Poland with the optimistic prognosis for the future.” – comments Dominika Jędrak, Director, Research and Consultancy Department, Colliers International Poland.
According to the report recent years have been very fruitful for Krakow, especially in terms of its office market. This was mainly caused by the activity in the BPO/SSC sector. The supply of such properties in Krakow is currently the highest among other regional cities.
Hospitality market is another fast developing sector in Krakow. Constantly growing number of tourists results in new hotel investments in the city. In terms of the quantity of categorized hotels in Poland, Krakow occupies the first position.
Despite the fact that Krakow industrial property market is one of the youngest in Poland it experienced record results in 2011. An attractive location, close to major national and international roads, as well as Special Economic Zones in the region make Krakow an interesting market to investors, developers and tenants.
The retail market in Kraków has been developing since the mid 1990’s, when the first large hypermarkets were opened. Today, the city has several shopping centres of significant size with Bonarka City Centre being one of the largest in Europe. High streets in Kraków are another fast developing market. Located in the Main Square of the Old Town and its vicinity they are very popular among international retailers.
„The publication gathers useful data valuable especially to potential investors. It is a reliable source of detailed information on the commercial real estate market and was very helpful during international fairs, presentations, meetings with investors and as the city’s promotional material.” – says Monika Piątkowska, Director, City Strategy and Development Department of the Municipality of Krakow.
Krakow Real Estate Market 2011 report is a free of charge publication, available at the Krakow City Hall as well as a PDF download on the City’s website >>> download the report