This report has been prepared by the Cushman & Wakefield Poland Advisory Department to present to readers the condition of the Polish real estate market at the end of the first half of 2007 and forecasts for 2008.
Economic information
The rapidly developing economy is not slowing down, and in 2007 the planned GDP growth level may reach 6.3-6.5%. The situation in the labor market has improved significantly. Economic emigration of Poles and the economic boom have caused unemployment to fall by four percentage points over the last 12 months. Rapid consumption growth also translates into rising inflation, which will currently remain at the level of 2.4-2.8%. In 2006, foreign investments worth EUR 11.5 billion flowed into Poland. It is estimated that in 2007 the value of foreign direct investments will exceed the level of EUR 10 billion. At present, the entire Central and Eastern European region is developing dynamically. The average GDP growth in 2006 was over 6%.
Industrial and warehouse real estate
Poland has the most developed warehouse space market in Central and Eastern Europe. Available modern warehouse space resources amount to approx. 3.15 million sqm, with another 1.10 million sqm under construction. Warsaw’s share in the country’s total resources is 54% and is decreasing due to the dynamic development of other regions: Poznań, Wrocław, Upper Silesia, Central Poland, and the Tri-City.
The full content of the report can be viewed at: http://www.industrial.pl/polska_raport_jesien_2007_pl.html