Residential developers driving demand for building land – Colliers
14:34
The total value of transactions closed in the building land market in Poland in the first half of this year amounts to approximately PLN 2 billion, according to Colliers International data. Residential developers generated the most demand for new sites in the period, accounting for around 60% of the volume, with the trend expected to continue in the near future. Prices of housing sites kept going up but more slowly than before – in downtown Warsaw they ranged from €370 to €1,380 per sqm of usable residential space, while in non-central locations in the Polish capital they ranged between €210 and €400 per sqm of usable residential space. The shortage of available land is now leading some home builders to look at sites housing aged office buildings with Echo Investment’s acquisition of part of the Empark complex in Warsaw – which is set to be demolished and replaced with apartments – being a notable example.
(Warsaw Business Journal)
