Kraków with another land transaction

immo lab has finalized the sale of an investment land located at 20A Cystersow Street in Grzegórzki district in Kraków. The seller is Archeton, and the buyer is a development company that plans a PRS project on the site.

The development potential of the plot is 5,000 sqm GLA.

- This is another transaction on the land market in Kraków in recent days, which confirms the very high interest of developers in the city. The buyer of the plot at Cystersów 20A is the same company which bought a land in a nearby neighbourhood a few days earlier. This makes Grzegórzki one of the most sought-after locations for PRS investments in Kraków - comments Piotr Litwin, Partner, immo lab.

Grzegórzki is close to the historical center of Kraków. Due to its convenient location and extensive recreational and cultural facilities, the district is considered one of the most attractive places to live in the city.

- With the transaction at 20a Cystersów Street, we are debunking the common belief that the local market is difficult for new players and that investment properties should preferably be purchased with a building permit. Observing more and more flexible approach of investors to acquisitions, we are optimistic about the future of the investment land market in Krakow. In particular, we are talking about land where multi-family or residential development is possible - explains Jakub Szymanowski, Senior Broker, immo lab.

This is the second transaction conducted by immo lab in November in Cracow.

- The race for the best land for PRS investments in regional cities continues. A very strong acceleration in this segment is observed not only in Kraków, but also in Tri-City, Wrocław and Poznań. Further transactions in these markets are just a matter of time - summarizes Daniel Puchalski, Managing Partner and Co-founder of immo lab.