Investor Presentaiton
Commercial Real Estate - Offices
Office resources (km²)
1,000
800
600
400
200
O
-
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Annual supply Total surface resources (right axis)
H1
Source: NEWMARK
14,000
Office prime yields (in %)
12,000
10,000
8,000
4.50
3.75
3.90
6,000
3.25
3.40
3.60
2.65
2.75 2.85
2.95
4,000
2,000
Amsterdam
9.50
Office resources by region (%)
2%
5%
1%
10%
8%
Source: JLL 2020 Q4
Average price (EUR/m²) and vacancy rate (%)
Warsaw
Cracow
Łódź
Wrocław
Poznań
Lublin
14
12
Katowice
Szczecin
10
Tricity
50%
8
14
12%
10%
8%
6%
5%
CO
6
6%
4
4%
2
2%
13%
Source: NEWMARK
0
0%
2012 2013 2014 2015 2016 2017 2018 2019
2020 2021 2022
In Poland prime yield is the highest in Europe (4.5%).
In Poland, the average rate per m²/EUR of office space is constantly growing,
despite the high supply, the vacancy rate is rising.
Covered Bonds Investor Presentation
H1
Average price [EUR/m2]
Source: NEWMARK
Vacancy rate [%] (right axis)
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