Krakow’s Office and Retail Space
Office floor in the city.
space amounts to a total of some 900,000 square meters but
just a third of it – some 310,000 sq. m. is situated in
modern buildings of high standard. But as much as 150,000
sq. m. of new A-class office floor can be added in 2010.
Even as the overall vacancy rate still hovers around 3
percent mark, the days of massive demand for high-quality
office floor area may be soon over despite influx of back
office operations of foreign companies including
Monthly rents, inclusive of service charges, range from ten
euros per square meter at the lower end of the market to
euro 25 per sq. m. in the downtown top class-A office block.
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.
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 423,600 sq. Monthly shopping-mall rents average
euro 30 per square meter plus service charges to the tune of
about 4.5 euro per sq. meter but vacancies are scarce.
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 36,000
square metres. 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 four 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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