Real Estate in Warsaw - review.

Major branches of the real estate sector in Warsaw include office, warehouse, residental and retail space.

Today, the supply of modern office space in Warsaw exceeds 1,4 milion square meters with the top class represented by about 45%. The rents are reaching 28$-30$, in districts outside the center more likely to be closed at 20$-25$ per square meter. In the Warsaw of 1999-2000, its market absorbed a number of Class A buildings, such as the Warsaw Financial Centre, Reform Plaza, and Warsaw Trade Tower.

Shoping centers are a fairly new phenomenon in Poland. Warsaw with 384,000 square meters of retail space, is still at the forefront in Poland, especially after the openings of Galeria Mokotów and Sadyba Best Mall. The larges investors in the industry include Apsys, Metro, Casino, Steen & Storm, Globe Trade Center and I.T. International Theatres. The emergence of new shopping centers has given rise to a number of entertainment and leisure facilities, often build in a mall.

As testiefied by the number of ads in dailies, the supply of residental space for sale in Warsaw is outpacing real demand. Skanska, Echo Investment, J.W. Construction and Viterra Baupartner are the biggest investors in the residental sector in Warsaw. An average price per square meter in Warsaw is about 3,000-4,000 zl(750$-1000$). The peak rates in Skanska's developments top aut at over 8,000 zł (2000$).

Also residental space for rent is outpacing real demand. The most interesting locations for residental properties are: Centre of Warsaw, Upper Mokotow, Ochota, Wilanow, Ursynow-Kabaty, Old Zoliborz, Saska Kepa. The average price for renting apartments in the Centre of Warsaw is between 10-15$ per sqm.