Employment offers on the rise
Poland has seen a big y-on-y leap in applications for residential mortgage loans.
Residential mortgage requests soar
The number of housing loan applications jumped in April by more than 83% year-on-year to 50,920 applications, the Credit Information Bureau (Biuro Informacji Kredytowej – BIK) reported, although there was a slight drop of 9.2% from March. The average requested loan in April was PLN 320,610, a figure 6.1% higher than a year ago. In terms of value, the total amount rose by 94.3% compared to April 2020, taken from enquiries sent by banks and credit associations. The figures, it must be noted, are demand figures, not lending figures, although those also show positive trends.
Employment offers on the rise
The Job Offer Barometer (Barometr Ofert Pracy, BOP) – indicating changes in the number of job offers posted online – increased by five points in April, the Investment & Economic Cycles Office (Biuro Inwestycji i Cykli Ekonomicznych – BIEC) reported, according to Inwestycje.pl. While rising inflation expectations may limit economic activity in the labour market, the acceleration of vaccination looks to be improving job prospects. “The increase is related to the demand for employees in professions requiring strict education. In the remaining categories, there were fewer job offers”, the report said. BIEC emphasized that in the service industry, a further decline in the number of job offers was recorded primarily in hospitality and catering
Warsaw gaming company behind Chernobyl Liquidators to float
Live Motion Games plans a May debut on NewConnect, the alternative Warsaw stock exchange allowing smaller companies to float shares. In April, according to strefainwestorow website, the company submitted an Information Document to the Warsaw Stock Exchange. Live Motion Games, established in 2017, generated a net profit of PLN 0.27 million in the first quarter of this year and in March the company conducted a public offering of shares which raised PLN 4 million, with all offered shares allocated. The company’s most successful game to date was Train Station Renovation, and two new games – Chernobyl Liquidators and Builder Simulator – are expected soon.
Amazon hires in Tri-City to service European market
E-commerce giant Amazon will create 650 jobs in their new customer service department in Gdańsk by the end of the year, the company said. The positions include both office-based and remote employees, who will serve Polish clients as well as German, French and Italian-speakers. Amazon has been operating in Poland since 2014 and employs over 18,000 people in nine logistics centres, with a 10th due to open in Lubuskie Voivodeship this year, as well as at the Amazon Web Services office and at the Amazon Technology Development Center in Gdańsk. The company launched a Polish version of its website in March this year.
New investors still entering the Polish commercial property market
Investment in commercial real estate in Poland amounted to EUR 1.25 bn in 1Q 2021, a figure 1.5% less compared to the five-year average for 1st quarters between 2017-2021, according to commercial real estate services and investment firm CBRE. Investors were mostly interested in offices and warehouses, with office transactions amounting to EUR 600 mln and claiming 48% of the total share. “Investors are generally looking for safe and attractive products, but what is important is that despite the pandemic, new players are still appearing on the market,” Przemysław Felicki, director of the capital markets department at CBRE said.
Media acquisition aiming to accelerate digital transformation
Burda Media Polska publishing house has signed an agreement to buy the Polish assets of Swiss company Edipresse Group, according to wirtualnamedia website. Under the agreement, Burda Media Polska will take over Edipresse Polska’s multimedia and digital portfolio, which includes popular websites for women including Wizaz.pl, Polki.pl, Party.pl, Viva.pl, Mamotoja.pl, Gotujmy.pl, Niania.pl, Viva and Party biweekly magazines. The deal value is not disclosed. Edipresse has been present on the Polish market since 1995. “The acquisition of Edipresse Polska opens up new, exciting development opportunities, allowing us to accelerate digital transformation and strengthen our consumer business in Poland, with particular emphasis on the lifestyle and beauty areas” said Alexander Sorg, President of Burda Media Polska.