APRIL 16-22, 2012
LOKALE IMMOBILIA – REAL ESTATE
www.wbj.pl
17
Residential
The Maria Sk∏odowska-Curie Bridge in Warsaw has significantly reduced travel times from the Bia∏o∏´ka district to downtown Warsaw The Warsaw district of Bia∏o∏´ka was for many years characterized by inadequate transport links, a factor which made traveling to the heart of the capital a difficult undertaking for the district’s 90,000 residents. However, with the opening of the new Maria Sk∏odowskaCurie Bridge (also known as the North Bridge) on March 24 this year, travel times to the capital’s center have been significantly reduced. Previously, the only route out of Bia∏o∏´ka towards the center was along ul. Modliƒska and then across the Vistula River on either the Grota Roweckiego Bridge or the Gdaƒski Bridge. This meant an average travel time by car during peak hours of about 90 minutes. But now, the new 795meter-long bridge, which connects Bia∏o∏´ka on the east bank of the Vistula with Bielany on the west, allows
Bia∏o∏´ka residents to cross the river much earlier, providing direct access to the M∏ociny metro station and thus a much quicker journey to the city center. “The long-awaited commissioning of the North Bridge has radically changed the situation of the inhabitants of Bia∏o∏´ka,” said Jaros∏aw J´drzyƒski, an analyst at real estate portal RynekPierwotny.com. “The positive effects of the improved road infrastructure have enriched this part of the capital which now has its own new crossing,” Mr J´drzyƒski added.
Price rises? In terms of the residential property market Bia∏o∏´ka’s primary and secondary housing markets have seen a decline in prices over the past four years, but demand for properties in the area is still high. This is because the average price per sqm is a third lower than prices in downtown Warsaw, making it an attractive proposition, especially for first-time buyers. “Bia∏o∏´ka is one of the cheapest places in the capital,” said Robert Latuszek, an
analyst from Home Broker. Prices in the area range from z∏.5,200–z∏.6,990 per sqm in the primary market, because developers are buying land at much cheaper prices than in other areas of Warsaw, Mr Latuszek added. But despite the benefits created by the Maria Sk∏odowska-Curie Bridge, property prices have yet to be driven up. A factor which could explain this is the district’s large new supply, said Robert Moszczyƒski, an analyst at RynekPierwotny.com. A significant number of investments are now under construction in the area, which has led to fierce competition in a bid to entice new buyers. And it is unlikely that prices will change in the near future. “Prices should remain at current levels, responding only to wider market changes,” said Home Broker’s Mr Latuszek.
Potential for growth However, analysts agree that low prices both for developers and buyers, added to residents’ ability to travel to downtown Warsaw in a relatively short time will spur growth in the future. “It is obvious that the new
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COURTESY OF WIKIMEDIA COMMONS
New Warsaw bridge to boost Bia∏o∏´ka housing market?
The Maria Sk∏odowska-Curie Bridge during the building stage bridge … gives Bia∏o∏´ka a new, and completely different dimension, which in time, will be appreciated by a growing crowd of people looking for the best location to live,” Mr J´drzyƒski said. Mr Latusek was more cautious in his assessment but
still said he believes the area has the potential for growth in the future. “It is difficult to fully predict the increase in new development investments, but the possibilities are large because of the sizable area of land still available. Looking at the east
side of the North Bridge investment opportunities in the area are relatively high and probably we will be able to count on an increase in primary market deals throughout Bia∏o∏´ka in the future,” he said. David Ingham