Retail
The third quarter delivered 102,000 sqm. GLA of modern retail space to the Polish market. All new openings were in the retail park format. 350,000 sqm remains under construction. During the third quarter, as many as 10 new retail brands made their debut in Poland. The vacancy rate in Poland's largest agglomerations amounted to 3.2%.
Office
At the end of the third quarter of 2024, the combined office stock of Poland’s largest markets (Warsaw, Krakow, Wrocław, Tricity, Katowice, Poznań, Łódź, Lublin, and Szczecin) exceeded 13 million sqm. New office supply reached nearly 152,000 sqm.
Hospitality
The investment transactions volume in Poland grew by 82% year on year, reaching EUR 83 million. The Warsaw hotel market continued to prove its strength, resilience and attractivity. Increased cost of financing and ongoing economic and geopolitical headwinds in the CEE region caused 2023 transaction volumes in CEE to drop by 18% compared to 2022. However, the volume invested by international buyers increased by 197% over the same period, illustrating the region’s rising attractiveness for inbound capital. Several significant deals are progressing since the year-end 2023, suggesting transaction volumes will rise in 2024.
Industrial
According to the latest report from global real estate services firm Cushman & Wakefield, the Polish industrial market saw a marked upturn in occupier activity in the second quarter of 2024, reporting the highest leasing volume in Europe. In addition, Poland’s total industrial stock is poised to soon surpass the 35 million sq m mark.
