13:12 20 July 2020
Post by: WBJ

The real estate market in uncharted waters (The 2020 Polish Real Estate Forum conference)

The first wave of the COVID-19 coronavirus has swept through the Polish real estate market like a tsunami. Which of its segments have lost the most and which ones will emerge from the crisis unscathed?

The real estate market in uncharted waters (The 2020 Polish Real Estate Forum conference)

As recently as early March, players in both the residential and commercial markets had no reasons to worry whatsoever – business and apartment sales volumes in the residential sector were only just below the all-time highs from three years ago, office and warehouse developers could also rub their hands with glee – demand for their products remained very high. A few weeks of a near total freeze of the entire services market and a large part of manufacturing was enough to shake the entire real estate market to the core, despite its high inertia against the economy. The situation in the labour market does not look good – many industries have seen mass layoffs and everything indicates that this is just the beginning. Therefore, we can expect a drop in demand for apartments and a halt to months of price increases in this market. All over the world, dozens of thousands of companies had to implement the home office model within days even though it hadn’t been in their plans at all. Malls and stores were closed overnight and almost all retail moved online – many chain stores weren’t prepared for such a scenario. But alongside e-commerce, the warehouse and logistics market emerged as another winner – in the near future, we can expect an increase in demand for small warehousing units located close to agglomerations, favoured by e-commerce, which allow for quick deliveries of ordered goods to final customers. 

 The years-long boom in the Polish residential and commercial real estate market has made industry conference participants accustomed to good information and sunny weather. Now everyone needs to think how to disperse the clouds and adapt our companies to operating in the new coronavirus realities – says Bartosz Zeidler, chairman of the board at Nowy Adres S.A.

How long will the downturn in the residential market last? Can the sudden „popularity” of the home office system lead to lower demand for offices? How is commerce supposed to work in the new realities of restrictions and prohibitions? When will normality return to the market? These are just some of the questions that will be explored by participants in the 10th, jubilee edition of the „Polish Real Estate Forum” conference, to be held on 24th and 25th August at the Sheraton Hotel in Sopot. This year, major industry players – developers, agents, consultancies, representatives of investment funds and banks, general contractors, suppliers of construction and finishing materials, architects, analysts, industry journalists – will be searching for new ways to efficiently run real estate businesses in the new market reality. There will also be even more forward-looking topics, such as new EU regulations on energy use in buildings or the long-term impact of implementation of new technologies on apartments, offices and commercial spaces. As usual, it will also be possible to use the innovative IT platform MatchMaker to arrange meetings with other conference participants – because new business connections can be a bigger asset in the cooling market than the most unique knowledge. 

More information and the full event programme: 

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