Market Reports

The Polish industrial and logistics market demonstrated solid growth throughout 2022. Around 0.8 million sqm came on stream in the last quarter, bringing total stock to just over 28 million sqm at the end of December.

2022 as a whole was over 600,000 sqm, of which more than 170,000 sqm was transacted in Q4 alone. 2023 looks set to be a year of rising occupational costs, strong negotiations and taking steps to ease increases.

The Polish commercial property market has reconfirmed its status as an investment hotspot despite the one-year-long war in Ukraine, the runaway inflation and the global economic turmoil.

Last year closed in Warsaw with the city’s total office stock standing at 6.26 million sqm, around half of which is 10 years old or older.

The end of the year for retail real estate in Poland was marked by a rise in inflation and the various consequences that followed it, increases in energy prices and the effects of the war in the Ukraine.

Despite uncertainties related to the economy losing momentum and the geopolitical situation, as well as the post-pandemic environment, the country’s assets of logistic, warehouse and industrial space increased to 1.16 million sqm in Q3.

At the end of the third quarter, the existing modern office space in eight key regional markets totalled almost 6.4 million sqm. There were no surprises on the podium of the largest office destinations, following Warsaw.

In total, in the third quarter, Polish commercial real estate investors spent just over EUR 1.4 billion. Most of it was invested in logistics, warehousing, and industrial projects. Players from the United States were particularly active.

At the end of September, the total existing retail space in Poland approached 15.5 million sqm, with new quarterly supply reaching 70,000 sqm. As in previous quarters, retail parks performed very well.