Noli Studios, a concept created in 2019 in Helsinki by NREP, is dedicated to young home-seekers and travelers looking for the comforts of home and the amenities of a hotel.
In October 2023, 280 studios in Noli Mokotow were opened in Warsaw. We talked with Head of Commercial for Noli Studios Ilkka Kaakinen about the company’s entry to the Polish market.
Why did you decide to expand to Poland?
NREP identified significant potential in the residential market in Poland. It seemed that the Finnish concept of Noli Studios would fit well into the Polish market. We started the collaboration together with YIT.
Were there any surprises from the Polish market?
When it comes to real estate, everything is different in every country. The biggest surprise in Poland was the legislation, such as fiscal policies and construction development processes. What positively surprised me was this optimistic, can-do attitude of Polish people. I love that it feels like the whole nation is actively moving forward.
Why do you think that Noli Studios will be interesting for Polish customers?
In the Nordic countries, around 50% people live alone. The percentage is slightly lower in Poland, but it’s increasing as well. We created this co-living concept, Noli Studios, to offer a home-like, flexible solution for any length of stay. We provide things that people need to live full lives, for example, by creating activities for our tenants that help them connect.
What is your target group?
The main target group are young urban professionals looking for home. Other than that, we host people with temporary housing needs as well as for those who look for regular hotel accommodation. Noli Studios are also great for expats or international students who have difficulties finding proper housing in a new country.
What is included in your offer?
The prices start from PLN 3 400 per month and include a furnished studio with a balcony, utilities, and access to 580 sqm of common area, such as a gym, meeting rooms, co-working spaces, movie and game rooms, and a rooftop terrace.
Do you also plan to move to other Polish cities in the next few years?
We entered the Polish market very recently, but of course we are planning to expand as rapidly as sensibly possible to other major cities in Poland as well. The first impression we got from the market is that we are very welcomed here. The Polish people seem very fond of our Concept already.
Are there any Finnish elements in the design of Noli Mokotow?
Yes, we have integrated a lot of Finnish design ideas there. For instance, we have small Moomin characters on the shelves and other little hints to our Finnish roots. We also always make sure that our site fits into the neighborhood. That’s why we used the help of Iliard, a renowned Polish company for interior design.
What advice would you give to someone planning to enter the Polish market?
It's very important to get to know the local legal regulations and taxation procedures, because they are quite complicated. I believe that good research takes you a long way. Don't underestimate the importance of knowledge and data when going into business in Poland. And of course, remember to put effort in sourcing good local partners.
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