Despite a drop in residential sales, the market remains in a state of equilibrium
25 July 2019
Developers still doing well
25 April 2019
Kazimierz Kirejczyk, FRICS
Łódź: the shining star of the development market in 2018
6 February 2019
The housing market in 2018: a thriller with a happy ending
22 January 2019
Summary of 2018 on the primary residential market
31 December 2018
Kazimierz Kirejczyk, FRICS
Pomerania Metropolitan Railway (PKM) undoubtedly has the potential to change the image of the Tri-City. Not only will it enhance the quality and improve public transport in the agglomeration and its neighbouring areas but also change the geographical structure of the real estate market.
PKM is currently the largest public transport project in the Tri-City area. Examples of other cities where similar undertakings were completed have already shown that the development of transport infrastructure, especially the railway, triggers changes of local, district as well as municipal magnitude.
PKM will create opportunities for residential developers to expand onto areas which have so far offered poor access, especially in the area of the second section of the route. This part of the city, which has so far had the lowest population density, is now popular with investors who seek new land to construct new housing estates. One can expect that the entire stretch of land located to the south of the PKM route, from the Wiszące Ogrody housing estate to the Wróbla Staw lake, will be developed with small, 4 or 5-storey multi-family buildings.
The popularity with residential developers of land around the third section of the PKM will mainly depend on how fast new jobs are generated in zones located near the airport. One can expect that development will start with single-family houses. Complexes of multi-family buildings will start appearing much later and their locations will be determined by the existing housing estates.
The new infrastructure will play a very important role, albeit different in every section. By making the areas more accessible, new railway stations will have the potential to give rise to new commercial and residential zones. The previously peripheral areas with scarce residential development will become more attractive, which will make it possible to activate them. Popular housing estates, such as Piecki-Migowo or Wielki Kack, will become even more attractive, which will result in new additions to the existing development.
You can find more information about the planned changes along the PKM route in the JLL report jointly written with REAS and Invest in Pomerania, published in the Publications sections.