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Demand for business space in Wrocław seen increasing


InWroclaw 89 | 1,915
8 Feb 2013 #1
Unless the translation software is well out, the article below seems to be saying there's increasing demand compared to 2011, although there is more available space due to new offices being built.

If that's the case, from my selfish point of view it's bad news as demand for housing in Wroc will increase and with it the rents and prices will rise. (Although there are a lot of new built flats dotted all over the city anyway, awaiting occupants or soon will be.)

Have I understood the article corrrectly? It suggests Wroc is buzzing with new businesses.
pip 10 | 1,661
9 Feb 2013 #2
sort of goes against everything that has been posted here about the dreaded "property bubble" exploding.
OP InWroclaw 89 | 1,915
9 Feb 2013 #3
Commercial's not something I know much about. I can tell you that some flats built in Partynice (Wrocław) a few years ago have a high vacancy rate. Looks like 15% of them are for sale. Across the road, they have built hundreds more. It's hard to understand what's going on, perhaps someone who reads this thread can say why so many seem unsold years later, yet there is a massive estate 1/2km away about to be released for sale. Incidentally, before setting off, saw my bus driver reading a brochure for a new development. He was very interested and the bus left late as a result. He even stole another look while waiting at the traffic lights. He was about 55 years old.
pantsless 1 | 267
9 Feb 2013 #4
"property bubble" exploding.

It's commercial real estate.

You never ever compare commercial, industrial and residential real estate.
jasondmzk
9 Feb 2013 #5
Wro appears to be a renter's market, right now. Our agent found a place to our specifications immediately, and the owner was so eager to contract a lease, they agreed to put in a larger fridge, even though the current one was brand new, as was the apartment. He also lowered the published price to accommodate our needs for a total monthly price with fees included.
pip 10 | 1,661
9 Feb 2013 #6
It's commercial real estate.

You never ever compare commercial, industrial and residential real estate.

oh for the love of pete.

if there is an increase in demand in office space- it means there will be an increase in jobs which also means that there is an increase in a need for products which require industrial space.

If there is an increase in jobs to fill the offices then there will be a need for residential space so the employees can live somewhere.

this is a basic description for something that is quite basic in the real estate industry, which is quite clear you know nothing about.

so yes we can always compare industrial, commercial and residential- because they are all connected.

as for Wroclaw- companies are looking to secondary cities to set up their businesses in Poland because Warsaw commercial real estate is much more expensive.

The employees are well trained and educated, Wraclaw is in reasonable distance to the rest of Europe, particularly Germany. And it makes sense to have a call centre in Europe because the time zone is the same as compared to the call centres in India.

For Example: Google, Nokia Siemens, Credit Suisse, and many others have all just taken space in Wroclaw.
However, I doubt that the residential prices will increase by much, the market is still saturated so buyers have more selection- they will probably level off for quite some time.
OP InWroclaw 89 | 1,915
9 Feb 2013 #7
Wro appears to be a renter's market, right now. Our agent found a place to our specifications immediately, and the owner was so eager to contract a lease, they agreed to put in a larger fridge, even though the current one was brand new, as was the apartment. He also lowered the published price to accommodate our needs for a total monthly price with fees included.

You are probably renting at 2500zl per month or more bracket, being in the public eye and all so they're short of tenants at that price

At my price, they ain't short of tenants, or they're just stubborn, because when I offer even 10% less or try to negotiate the agent's fees down I get the middle finger.

Also, today I couldn't even get the agents to take any interest in me with a budget raised to 1500 - one did a half hearted email saying the place was occupied still and the other just told me the place was let and didn't even try to suit me to something else. They must have loads of tenants - an idea reinforced by the fact they want a whole month's rent as their fee from me (see my Let Let Let thread)

That said, I see lots of flats readvertised as the tenants just aren't biting at the rents demanded. Very few landlords are seeing sense and dropping - instead they are getting voids of weeks or months and losing chunks of money
jasondmzk
9 Feb 2013 #8
We saw loads of 1200 pln plus fees flats that we weren't interested in, and all of our friend's who were rooming up together are all living alone, since it's gotten more affordable to do so. I gotta hunch there's something about you that's making the lessor's nervous. Aren't you a student? That used to not be a problem, but maybe they've been burned one time too many by the university kids. It's the opposite of how it used to be. Now couples with kids are considered rock-stable, where before we might have been viewed as nuisances that were more liable to void a lease if there was a break-up. I know these apartments are out there, man. I've been getting deluged with photos for the last 6 weeks. Maybe you should tighten up your game, try to color it more your way? I'm not saying you're not a desirable tenant, but not being a local could be stacking the deck against you. I'll be there in 3 weeks, and if you're still in a bind, you can take the ol' #7 to Krzyki and I'll help shake some branches for you.
pip 10 | 1,661
9 Feb 2013 #9
chaps you are forgetting the Polish mentality. There are houses that have been for sale for over 10 years in Warsaw- and the sellers will not budge on the price. It is a different way of thinking that none of us from the west will ever understand.

We have a rental property at the seaside. You wouldn't believe some of the questions we are asked with regards to renting the place. Ours is only short term holiday rentals but after owning this place it has given us a bit of insight into the other rentals....and we do the opposite which has allowed us to be able to rent to Poles, Irish, Germans and they have all given us good reviews on booking.

Many landlords feel that they are doing a huge favour for tenants, but in actuality it is the other way around. And this point has yet to be understood by landlords.
OP InWroclaw 89 | 1,915
9 Feb 2013 #10
Thanks Jason, I am just up the road by TVP Wroc anyway, I may do that. (Not a student, I'm way over 39 in fact!)

Many landlords feel that they are doing a huge favour for tenants, but in actuality it is the other way around. And this point has yet to be understood by landlords.

Amen to that.


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