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The Warsaw Voice » Real Estate » May 14, 2008
The Real Estate Voice
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Apartments Flourish in Poznań
May 14, 2008 By Michal Jeziorski   
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The number of new apartments in Poznań has increased dramatically. Last year, more than 4,000 apartments were delivered for occupancy, a 44-percent jump from 2006. The average size of a new apartment was 80 square meters.

On average, Poznań residents paid zl.7,700 per sq m for a new apartment last November, the highest price in the history of the local real estate market. Prices rose a record 67 percent in Poznań in the first nine months of 2007, which was the sharpest increase in Poland at the time. Prices of new apartments continue to rise, but the upward trend is no longer as spectacular as last year and the Poznań market has entered a stabilization phase. In order to sell an apartment at a high price, developers must tempt buyers with attractive locations, high standards and intriguing architecture. Prices will definitely grow in coming months for developer projects offering superior architecture and locations as well as advanced technologies. In 2009, prices of new apartments will average zl.10,000-12,000 per sq m.

Many who cannot afford to buy a new residence in Poznań are opting to move out of the city to neighboring municipalities. Yet the suburban markets are by no means dormant, as the average price of a single-family house in the greater Poznań area rose from around zl.500,000 in 2006 to zl.700,000 in 2007. The prices of land around Poznań keep rising as well. At the beginning of 2006, for example, the going rate was around zl.100 per sq m for a plot of land in the town of Skórzewo, while now the price has reached zl.300.

The most prominent new building in Poznań will be Korona Tower. Designed by famous architect Daniel Libeskind, the 31-story structure will soar 105 meters above street level. It has three underground floors for parking, which combined with a few dozen parking places on two floors above ground will add up to room for 400 cars. The ground floor and three floors above will house commercial space, while the remaining floors to the 31st will be devoted to about 250 luxury apartments. The layout of individual floors is not yet final so, for example, part of the building may still be converted into a hotel. The building features sharp, irregular forms, which are typical of the Polish-American architect. It will tower over its neighbor, the Poznań University of Economics, which is only 78 meters tall. The Korona Tower's developer is Wechta of Poznań.

Another noteworthy project in Poznań is planned by Limitless, the international real estate arm of Dubai World, a powerful developer in the United Arab Emirates. The corporation is famous for several unconventional and innovative projects, such as The Palm Jumeirah (a palm-shaped island with 7,000 apartments and 1,800 villas) and The World (300 artificial islands arranged as a map of the world). Dubai World invests heavily in its projects; one of its most recent ones is a residential and office center in the city of Jebel Ali. The company has poured $13 billion in this 200-hectare project alone.

Polish Residential Market 2007, a report compiled by the companies Nowy Adres and Millward Brown SMG/KRC, found that the most recognizable developer brand in Poznań is Ataner Sp. z o.o. In the report, the developer was mentioned by 50 percent of respondents in the category of spontaneous brand recognition and 67 percent in the supported recognition category. Ataner builds between 700 and 800 apartments and service establishments a year; since its founding 17 years ago it has provided 6,000 apartments. The developer is a leader in the construction of intelligent buildings fitted with IT systems to manage all technical installations.

The report assigns second place to Budimex Nieruchomości, part of Poland's largest construction holding, Grupa Budimex. Budimex Nieruchomości was named by 34 percent of respondents in the spontaneous recognition category and 57 percent in supported recognition. The company, which operates in Warsaw, Poznań and Cracow, has more than four decades of business experience. In 2006, Budimex Nieruchomości took the third place in the national Developer Ranking and eight years ago, it received the Developer Certificate issued by the Polish Chamber of Construction.

The third most recognizable developer in Poznań is Trust, which had 21 percent of spontaneous recognition and 32 percent of supported recognition. The Trust engineering enterprise entered the construction market in 1989 and joined the developer market in 1993. During the past 16 years, Trust has built more than 1,400 apartments and houses in and around Poznań. The company is well known as a provider of large apartments in good locations.

The report gives the next recognition spots to Agrobex, Wechta and City Park. The photo shows apartments that Agrobex is building in the Osiedle Ułańskie quarter, on the site where the barracks of a lancer regiment used to stand.

POZNAŃ: Latest Projects
Apartamenty na Jeżycach (Apartments in Jeżyce) Kościelna Street

The developers are planning to complete this promising project involving more than 290 apartments in the third quarter of 2009. High standards, large rooms and quite reasonable prices (over zl.8,000 per sq m) make Apartamenty na Jeżycach worth a closer look. The buildings rise six floors, thus forming a perfect match with the surroundings. For an extra charge, residents can buy a parking space in an underground lot. All apartments are equipped with glassed-in, sun-filled balconies or terraces. The quiet neighborhood is a guarantee of comfort and privacy, while the lush greenery outside the windows will help the residents forget this is almost the city center.

Nowa Siena Old Town
If you have a fat wallet and high expectations, this place might be just right for you. Construction is scheduled for completion in the third quarter of 2009, but you'd better hurry. The biggest advantage of this project is its extremely attractive location not far from both the Poznań Cathedral and the Old Town Square. The developers are very attentive to the comfort factor right from the moment of purchase; the buyers are offered unusually flexible options to customize their apartments, choosing from top quality materials. Extra soundproof features, video intercoms and a reception desk are only some of the many advantages. Apartments in the building's attic look particularly attractive with high ceilings and beautiful views of the city and the Warta River. The building will have an underground car park. The price may be high, but an apartment in Nowa Siena is worth it.

A new multi-apartment building -Bolka Street
December 2008 is the expected completion date of a new multi-apartment building near the Osiedle Łokietka estate in Poznań. The building will house spacious, modern apartments which even demanding customers can appreciate. The residents will have a private yard. Other assets include an underground car park and anti-burglar smoke-proof doors. Above all, the project entices with reasonable prices, as it is hard to find apartments providing comparable comfort at just zl.6,000-7,000 per sq m.

Ogrody Naramowickie
Ogrody Naramowickie is a new and intriguing housing estate in Poznań scheduled for occupancy in September. The estate encompasses 122 units in five-story buildings. The use of quality materials (wood and stone) inside the building and the layout of the apartments, designed to combine comfort with functionality, are guarantees of a very high standard. The appeal of this fenced-in and guarded estate is made complete by splendid greenery arrangements. Families with children will be interested to know the project also has a playground. The prices range around zl.6,500 per sq m, which makes them quite attractive, and since advance sales of apartments have begun, you'd better hurry!

Grunwald/Górczyn apartment complex
A new apartment complex at 15 Górki St. in Poznań will be ready for occupancy in a couple of months. The primary appeal of this project are the prices, which at zl.6,000 per sq m are quite low by Poznań standards. The developer includes roller-blinds in the price. For zl.25,000, you can also buy a place in an underground car park. The building is fenced, providing privacy and serenity.

Apartment house on Garbary Street
This one is another treat for those who want to have a place of their own in the city center. The apartment house on Garbary Street will house 154 apartments, from 30-square-meter studios to four-room units sized 105 sq m. The top-floor penthouses, with beautiful, sunny terraces, are the project's most attractive feature. The developer offers a wide selection of unconventional floor plans.

Żurawiniec 3 estate Naramowice
Those who seek relaxation outside the city center may opt for this interesting complex of nine three-story buildings, each housing five apartments of a high standard. Every apartment comes with a garage. The buildings are situated in an attractive, green neighborhood. The housing estate will undergo subsequent enlargement.

Luxury apartments
The Urbis company is planning to deliver four luxury apartments on Podgórna Street in the next couple of months. The obvious benefit of the apartments is the location just 400 meters from Old Town Square. The finishing is top notch; the apartments are equipped with video intercoms, locks with fingerprint identification, air conditioning and electrically operated roller-blinds. Taking advantage of the convenient location, you may also want to convert an apartment into a representative office of your company.

Third construction phase in Wilczak estate
The Wilczak housing estate in the Winogrady district of Poznań is scheduled for occupancy in the fourth quarter of this year. The five-story buildings with elevators will house modern, spacious apartments. Wilczak is situated in a green neighborhood just 10 minutes from the city center and close to a Tesco supermarket. The apartments offer picturesque views of the Warta River.

Kasztanowa Aleja Grunwald
The Kasztanowa Aleja estate in the Grunwald district of Poznań is a true gem on the local market for real estate. Combining traditional design with modern ideas, it is the perfect place for those who seek a refuge from the stressful city bustle, yet is conveniently located near Poznań thoroughfares. The estate has a modern security system. The most attractive apartments, situated on the top floors, open onto recreational terraces and are sized around 150 sq m.

Pelikan apartment building
Apartments are still available in the Pelikan building on a scenic bank of the Warta River. Given the prices and what they include, this is a really attractive location. Apart from an underground car park and 24/7 security, the building offers a swimming pool and sauna. The special appeal is made complete by the architect's unconventional style.

Przylesin estate Marcelin
Construction on the Przylesin housing estate near the Marceliński Woods is expected to wind up by the end of the year. The project is designed to appeal to a large group of customers; it consists of four-story multi-apartment buildings with parking spaces on the ground level and smaller, four-apartment buildings with individual garages.

Apartments in Ułańskie estate Grunwald
Exclusive apartments in the Ułańskie estate will be ready for occupancy in April 2009. The single and two-floor apartments are situated inside 19th-century buildings, lending a unique feel to the place. The apartments are sized from 60 to 163 sq m.

Batorowo estate in Tarnowo Podgórne
The second phase of construction in the Batorowo housing estate in Tarnowo Podgórne is scheduled for completion in June. The houses stand out with modernist architecture, large yards (over 500 sq m) and unconventional room layouts. Batorowo is a good idea for those who like novelty on the real estate market.
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