Market statistics - definitions

Absorption - or net take-up, shows the amount of office space actually absorbed by the market. Absorption is the difference between vacant space in the previous period (t-1) and the current available space (t) increased by the amount of gross leasable space added to the market in a given period (t).

Add-on factor (common area factor) - the percentage of common areas in a building.

Air-conditioning - A system allowing for mechanical air exchange in the room while maintaining constant temperature and /or humidity of the air. There are many various air-conditioning systems, and one of the most popular solutions is a system mounted in the headliner space, providing both cooling and heating (four-pipe induction units), usually with humidity control. In most modern buildings, there is a possibility of manual adjustment of temperature for individual rooms.

Amortisation period - a time frame during which an investor is expected to repay the loan. The amortization period is often much longer (eg. 25 years) than the loan's term (eg. 5 years). If the loan period expired, the loan is extended for the next period (loan rollover) or the repayment of the remaining principal (balloon repayment).

Architectural concept - a design prepared by an architect, presenting the possibilities of development of a given land property or reconstruction or extension of an existing building. It includes visualizations of the building, floor plans, cross-sections and a breakdown of basic technical data. It constitutes preliminary information on the investment project planned, serving as a basis for preparation of designs that are attached to applications for an outline planning decision or a building permit.

Arrangement budget - estimated costs of the arrangement of the leased space above developer standard, usually expressed as a net amount per 1 sq.m of leasable space.

Biologically active space - virgin soil covered with vegetation and surface water on the development plot, as well as 50% of the total surface of terraces and slab roofs, designed as lawns or flower beds on the soil ensuring natural vegetation of the area of no less than 10 m2. Some local plans do not take into account the second part of the definition.

BMS - Building Management System, a central control system monitoring the building services such as: security, lighting, ventilation and air-conditioning.

Build to suit - is the process whereby an investor agrees to construct a project according to the needs of a specific tenant.

Building area - the total square footage of a parcel of land that is allowed by the regulations to be covered by buildings and other physical improvements.