Real estate market

A mere 45,000 sq.m of new space was delivered in first half 2011. With over 2,66 million sq.m of warehouse space, the Warsaw region remains the largest warehouse market in Poland. It comprises the Inner City (the area within the city administrative borders mainly Okęcie, Służewiec, Targówek and Żerań) and the Suburbs (the area within 12-50 km zone, municipalities to the south and west of Warsaw (Piaseczno, Nadarzyn, Janki, Pruszków, Sochaczew, Teresin, Błonie, Ożarów Mazowiecki and Mszczonów).

In first half 2011 nearly 407,000 sq.m of space was leased in Warsaw, which is a satisfactory result compared with 449,000 sq.m leased in all 2010. The Inner City accounted for only approx. 16% of the lease volume (with the retailers and courier services as the main tenants). The Suburbs accounted for 84% of the take-up (with logistics operators as the main tenants 50% of the space leased).

Vacancy rates equalled 20.6% in the last six months. Rental rates tend to vary in the Inner City and in the Suburbs.