Poland as the destination for Shared Services Centers

Poland as the destination for Shared Services Centers 69
Real estate
In the recent years the city has become one big construction and renovation site. Large
buildings erected by foreign investors have become permanent features of the cityscape and
nearly 20,000 new flats and luxury apartments have been constructed. The vast majority of
new projects are being erected in non-central locations, with the largest number in the district
of Służewiec, south-west of the city center. Due to the global credit crisis and difficulties
in obtaining financing from banks, some projects currently under construction have been
temporarily put on hold and only the office space that has been pre-let will be delivered.
Despite the fact that the demand for high-class office space is still enormous, rental rates are
expected to fall somewhat in 2009.
Dwellings completed (2008) 19,429
Dwellings stock (end of 2008) 800,340
New apartments – average price per sq m (end of 2008) PLN 9,200 (approx. EUR 2,000)
Office space stock (end of 2008) 2,979,000 sq m
Vacancy rate (end of 2008) 2.9%
Office rental prices (per sq m) EUR 14-30
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