The commercial real estate market reports €5.9 bln in transactions in 2021
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Investment volume in the Polish commercial real estate market reached €5.9 billion in 2021, of which 53 percent was in the warehouse sector, 30 percent in office buildings, and 13 percent in retail, Avison Young said. Last year a record number of 166 transactions took place on the market, with the participation of 80 active investors. The company expects that 2022 will bring, among others, the "big comeback" of the office sector.
“The Polish investment market quickly adapted to the changes caused by the pandemic. The warehouse sector achieved a record share in the total volume – 53 percent. This result is even more impressive if we compare it to the share of this sector from before 2020, which over several years amounted to an average of 17 percent. The retail market is still dominated by transactions with retail parks, which have been increasingly popular among investors over the last three years. However, in 2021, twelve transactions in large shopping centers were also completed, which is a big change compared to 2020, when only two objects of this type were sold. The lower volume of investments completed in 2021 is partly due to the lack of transactions in the portfolios of large retail properties and large office buildings. On the other hand, we are observing an increasing number of transactions in warehouse property portfolios, which by their nature are characterized by a lower value of assets. Avison Young expects that 2022 will bring a great return to the office sector, mainly 'core' and 'core +' assets, both in Warsaw and in regional cities,” the release reads.
