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The Warsaw Voice » Real Estate » January 30, 2008
The Real Estate Voice
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January 30, 2008   
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Warsaw's Aura Park Almost Ready

The first phase of the Aura Park residential estate in Warsaw's Wilanów Town is nearing completion.

The developer, Mill-Yon Sp. z o.o., plans to hand over the keys to first residents at the end of the first quarter.


Silesia Home Prices May Go Up: Report

Experts from the consultancy firm REAS have reported that residential real estate prices in the southern region of Silesia may go up. There has been growing investor interest in the region for some time as the prospects for development have improved.

With some 2.2 million residents-or 6 percent of the country's total population-Silesia is the most urbanized region in Poland and consists of 19 towns.

"Silesia's current economic performance allows for some optimism regarding the growth of the residential sector," said Karol Dzi¼cio", a consultant with REAS. "This is a result of the region being transformed from a center of heavy industry into a modern one focused on services, with rising incomes and substantial planned investment in local infrastructure."

Nine cities in Silesia have populations of over 100,000 and the largest, Katowice, has nearly 315,000 inhabitants. Population density ranges from 485 to 4,128 residents per square kilometer, though the region has an estimated 864,000 apartments, which means 388 per 1,000 residents, slightly below the average for big cities in the country as a whole.

"If you adopted Warsaw's market saturation rate as a target for Silesia, then the deficit would be 136,500 apartments," said Dzi¼cio".

"It should be noted that developer input is relatively small in the region as nearly half the apartments were built by private investors. So it seems that there is a lot of room for new investment in the near future."
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