Krakow’s Office and Retail Space
Office floor in the city.
space amounts to a total of some 1.1 million square meters
and some 714,000 sq. m. are situated in
modern buildings of high standard. And as much as 105,000
sq. m. of new A-class office floor have been added in 2014
alone. Developers plan to provide over 87,000 square meters
of new office space in 2015, and at least 40,000 sq m in
vacancy rate hovers around 5.5 percent mark. The days of massive demand for high-quality
office floor area seem to last mainly due to influx of back
office operations of foreign companies including
multinationals, such giants as Google, Cisco, and HSBC among
Monthly rents, inclusive of service charges, range from ten
euros per square meter at the lower end of the market to
euro 20 per sq. m. in the downtown top class-A office block
with the average for the class A at 14 euro per sq. m.
Average yields on investment in new office space exceed ten
Retail space in
Quality mercantile facilities at Krakow’s Old Town’s busiest
street, Florianska, and at the city’s central Rynek Glowny
square rank among Poland’s priciest. Renting a ground-floor
shop here costs euro 70-90 a month per square meter. Cellars
or upper floors as well as courtyard locations are both less
expensive and more readily available. At the same time other
main streets in the historical district – Grodzka, Szewska,
Sienna, Slawkowska – prove slightly cheaper, while some
side-streets sites may turn out fairly affordable.
The festive season's shop window
in a shopping mall in Krakow.
Since mid-1990s shopping centers mushroomed in Krakow, with
their biggest concentration in the area halfway between the
Old Town and the Nowa Huta district. At the same time two
big shopping malls, the 60,000-sq-meter Galeria Krakowska
and the 36,000-sq-meter Galeria Kazimierz enjoy a central
location. Notably the former, completed in September 2006 as
the first part of the ambitious New City project, is
strategically situated since it adjoins Krakow’s focal Old
Town historic district
and abuts on the central train station adjacent to the
city’s main bus depot.
Total floor area of Krakow’s modern retail facilities amount
to roughly 700,000 sq. Monthly shopping-mall rents average
euro 40 per square meter plus service charges to the tune of
about 4.5 euro per sq. meter but vacancies are no longer scarce,
notably in older malls.
Median yields on investment in Krakow’s new retail space
hover around ten percent.
property in Krakow.
The city's warehouse space still amounts to pitiful 130,000
square metres despite fairly rapid expansion in recent
years. Small wonder the vacancy rate is just five percent,
the smallest among Poland's cities. Demand will surely
surpass supply for many years to come even though new
investments are expected to alleviate the shortage somewhat.
Monthly rents for warehouse space in Krakow average 3.7 euros per sq meter.
Guide to real property in Krakow
Krakow's Real Estate
Residential property in Krakow: flats, condos, and houses
List of Krakow's Real Estate Agents
How to sell real estate in Krakow
Toolkit for would-be buyers of Krakow property
Business in Krakow
Taxes in Poland
New Town in the
Center of Krakow
Shopping in Krakow
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