According to the data of Colliers International, in the first half of 2013, the demand in Szczecin has reached the level of 8 200 sqm and the majority of transaction concerned newly completed structures. In the period described, two projects with a total space of 17 850 sqm, namely Baltic Business Park C (10 850 sqm) and Piastów Office Center I (7 000 sqm), entered the market. These have increased the total office supply in the city to the level of 79 700 sqm. Several buildings are still under construction and the biggest of them are: Lastadia (11 500 sqm, SGI Baltis) and two phases of Piastów Office Center (14 000 sqm, Real Kapital).
The vacancies level has decreased from 19,8 %, noted by the end of 2012, to 16,8 %. 85 % of the free space was included in the projects finished in the last 12 months. Rent rates for the best office spaces were fluctuating between 11,5 to 14 Euro/sqm/month.
Till the end of 2012, service centers located in Szczecin had a very narrow selection of attractive locations. Recently the situation has significantly changed. The current level of supply causes a situation in which we not only observe the entrance of new companies to the city, but the relocation of present leaseholders of BPO/SSC sectors as well. It's possible that by the end of the next year, the level of vacancies in Szczecin will once more drop below 10 percent, but even today we can see distinct symptoms of developers taking care of certain level of supply, which in turn will grow by 11 500 msq in the second half of the year - comments Mieszko Czarnecki, Regional Director of Colliers International in Szczecin.
Colliers International's report available in PDF file below.
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