Warsaw leads the commercial real property market

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Currently in Warsaw there are 26 state-of-the-art office buildings with a total area of 254 thousand sq. m. The Capital City remains the undisputed leader in commercial real property, providing more than 65% of office space available in Poland – says the latest report from Jones Lang LaSalle.

Warsaw holds pole position in terms of cost to quality in office space provided, according to the latest European Cities Monitor. This trend is supported by the recent Jones Lang LaSalle report – its calculations show that Warsaw’s companies leased out over 573 sq. m of commercial space in 2011. Jones Lang LaSalle analysts anticipate a similar result for 2012.

Nearly half the investments which are to be handed over in 2012 hold certificates for their environment-friendly character. In comparison in Prague there are 35% such planned buildings, and in Bucharest 28%.

The authors of the report point to large infrastructural investments, which might impact the attractiveness of locations. In this context, the second line of the underground is cited, as it can change the significance of the Wola District for the commercial real property market. Experts from Jones Lang LaSalle emphasise that in the longer-term, right-bank Warsaw will also benefit from this investment in the eyes of entrepreneurs, while the work on the Łopuszańska Junction, the connections with Okęcie, and the southern ring road will increase the attractiveness of Warsaw’s southern districts.

Jones Lang LaSalle experts cite the “Emerging trends in Real Estate Europe” report, prepared by PwC. In that report Warsaw was placed fourth in Europe in terms of development prospects on the real property market. The only cities with better prospects are Munich, London, and Istanbul which leads the ranking.