Retail
In 2024, 530,000 sqm of GLA was delivered onto the Polish retail market in 2024, marking the highest annual supply since 2015. At the end of December, 375,000 sqm were under construction. 26 new brands entered the Polish retail market in 2024. The vacancy rate in Poland's sixteen largest agglomerations stood at 3%.
Office
At the end of the fourth quarter of 2024, the combined office stock of Poland’s largest markets (Warsaw, Krakow, Wrocław, Tricity, Katowice, Poznań, Łódź, Lublin, and Szczecin) stood at 13.1 million sqm. New office supply exceeded 228,000 sqm, with most of this space delivered in Warsaw, Wrocław and Katowice.
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
Summary of the situation in the warehouse and industrial space market in Poland in 2024: the level of demand remained stable at nearly 6 million sq m of leased space, an increase of 4% compared to 2023. Moreover, lease transactions in the Polish market accounted for as much as 59% of the contracts finalised in the CEE region (9.83 million sq m). On the other hand, development activity is slowing down - the volume of projects started last year was the lowest since 2016. This, in turn, should lead to a decline in vacancy over time.
