Trei Real Estate GmbH (“Trei”), a developer and property asset holder for residential and retail real estate, just launched the sales drive for ownership apartments in the Polish city of Lodz. The project represents Trei’s second residential development in Poland. The initial total of 104 apartments offered for sale will be built during the first construction stage. Apartment sizes range from 25 to 87 square metres. The property is located at Traktorowa Street 50 in the Bałuty district in the northern part of Lodz. With a population of nearly 700,000 residents, Lodz is the third-largest city in Poland, after Warsaw and Krakow, and is the capital of the voivodeship of the same name. Trei entered the Polish residential real estate market in summer 2019 with a first project in Wroclaw.
Pepijn Morshuis, CEO of Trei Real Estate, commented: “I’m glad that we’re able to expand the development of residential real estate in Poland. So far, the effects of the coronavirus crisis have barely been felt in Poland’s building sector. Apartment sales have also continued as before the crisis, although future COVID-19 measures in Poland could slow down the marketing process. Allowing for future steps to curb the spread of the coronavirus, the project is scheduled to be launched in the third quarter of 2020 and the completion for the fourth quarter of 2021. Due to the ongoing pandemic, we are currently rolling out options for digitising our sales. For instance, it is now possible to have video chats with our staff on the ground and to place apartment reservations via the internet. In addition, we are currently preparing the technology necessary to offer virtual tours of the premises. We are getting quite a number of calls by prospective buyers, and assume that we will be receiving the first reservations in the coming days.”
According to the research and valuation company WüestPartner, Poland has a shortfall of about three million apartments. Morshuis elaborated: “We rate the segment as attractive because high-quality residential accommodation is in short supply in Poland. Our efforts focus on the country’s major cities, such as Warsaw, Krakow, Gdansk, Poznan or Lodz. In addition to Wroclaw and now Lodz, we secured further plots of land in Warsaw and Poznan. We are planning to develop a total of 1,600 residential units in Poland in the coming years.”
The project in Lodz is located about 15 minutes from the city centre. The new building will be characterised by an attractive wooden façade, steel-and-glass balconies and large windows. All of the residential units will either have balconies or patios. In addition, the ground-floor apartments will come with private gardens of up to 100 square metres. The development will also include an underground car park with 132 parking spots and a playground.