Source: Colliers International

“In terms of residential land availability, at the end of 2008, the market noted a 25-40 percent increase in land available on the market, compared with the beginning of 2008,” stated the report.

With regard to changes in residential property prices, the midpoint between the highest and the lowest price per sqm of net sellable area fell by 16 percent, on average, between Q1 2008 and Q4 2008.

Land prices for office investment sites in Warsaw in 2008 started at €175 (zł.792) up to €3,500 (zł.15,835) per sqm, however, the average transaction prices were €300-1,200 (zł.1,358-5,431).

The lowest land prices for office developments in 2008 were found in Katowice and Łódź and ranged from 125 to €250 (zł.565-1,130) per sqm, although the average transaction price was about €190 (zł.860) per sqm.

In 2008, the prices of land for retail investment ranged from €50 to €400 (zł.226-1,808) per sqm of land. However, according to the report, the highest level of pricing accepted by developers was within €150-200 (zł.678-904) per sqm.

Land prices for industrial development alongside the construction sites of new highways rose from around €15 to €20 (zł.68-91) per sqm in 2005, to €100 (zł.454) per sqm in mid-2008. In H2 2008, a 15 percent decline in the value of industrial land prices was seen.