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 2006 and forecasts for 2007.
Economic Information
The Polish economy recorded rapid growth in 2006. GDP growth at the end of 2006 reached 5.8% (the highest since 1997), and its main driver was domestic demand, generated by consumption and increasing capital expenditure. The unemployment rate fell from 17.6% at the end of 2005 to 14.9% at the end of 2006. Since the beginning of the 1990s, foreign direct investments worth over EUR 70 billion have flowed into Poland. This amount not only ensures Poland a leading position among all countries in the region but also indicates that the Polish economy is competitive and focused on systematic development.
Industrial and Warehouse Real Estate
Poland has the most developed warehouse space market in Central and Eastern Europe. In addition to Warsaw, dynamically developing areas include: Poznań, Wrocław, Upper Silesia, and Łódź. In 2006, Kraków, the Tri-City, and Bydgoszcz also appeared on the map of locations for modern warehouse facilities. The rapid development of regional markets was largely caused by the improvement of road infrastructure, mainly motorways.
The full report can be viewed at: http://www.industrial.pl/polska_raport_2007_pl.html