According to CB Richard Ellis’s Accumulator, Investment Market in Poland H1 2009, the stagnation that Poland suffered in 2008 has carried on into 2009 with the commercial sector being badly affected.

In H1 2009, there was a -90% decrease in transaction volumes compared with the same period in 2008, according to the report that covers all aspects of the property investment market in Poland and its future trends.

In H1 2009, there were just eight deals worth €118m, with each transaction worth an average of €14m. The office and retail property sectors continue to dominate the investment market, although the share of retail transactions is lower. Since the beginning of the year, there were only five retail transactions totalling €40m and three office transactions in Warsaw totalling €78m. So fat in 2009 there have been no transactions registered in hotel and industrial sectors.

Open and closed-ended funds were the major buyers this year with Arak Bz WBK and Deka being the most active. The majority of the invested funds came from Germany although Polish and UK investors closed more than one deal each.

According to the report, yields have suffered and prime yields in Warsaw are now around 6.75-7%. Industrial yields are estimated at 8.75-9%.