Appetites for Kraków's PRS land are growing

Gobarto, part of the Cedrob Group, has finalised the sale of an investment plot of nearly 4,000 sqm located at 22 Cystersów Street in Krakow. The buyer is a development company that plans a PRS investment there. The deal, worth approx. PLN 23.5 million, was led by immo lab.

The plot is located in the Grzegórzki district, close to the historical city center and near numerous public transportation stops and recreational areas.

- Grzegórzki is currently one of the most attractive investment locations in the capital of Małopolska. The district, despite being located not far from the center of Kraków, has managed to preserve its intimate character over the years. Additionally, there are numerous parks, cinemas, theaters and museums making it an ideal place to live. For this reason, Grzegórzki attracts more and more residents, and thus attracts the attention of development companies looking for promising land for new investment projects as well - explains Piotr Litwin, Partner, immo lab.

The plot sold by Gobarto is located between Cystersów, Fabryczna and Mogilska Streets. The development potential of the site is 8500 sqm.

- The land at Cystersów 22 has the potential for service development. Due to the high popularity of the district among, among others, students or people relocating to Kraków for professional reasons, the buyer plans to carry out here the PRS investment -  comments Jakub Szymanowski, Senior Broker, immo lab. 

Krakow attractive for PRS

As Daniel Puchalski, Managing Partner and Co-founder of immo lab, explains, the transaction at Cystersów 22 confirms the huge potential of the PRS segment in Kraków.

- Kraków is a brand in itself - a leading academic center, the most popular tourist destination in Poland and the favorite location in this part of Europe for investments in the service sector. These factors translate into an exponential increase in inquiries from developers interested in carrying out PRS projects in Kraków. The competition is huge. This real estate segment in Poland is still at an early stage of development and represents a very attractive market niche for investors targeting safe assets, and apartments for rent are such a category - concludes Daniel Puchalski.