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Summary of Q3 2024 on Poland’s Industrial Real Estate Market

We are pleased to present the latest report on the state of the industrial real estate market in Poland for Q3 2024. Transformations in the industry, growing resources, and diverse vacancy rates reflect the dynamic nature of the market and the increasing demand for modern warehouse spaces.

Key Data:

• The total supply reached 33.63 million sqm, with 1.6 million sqm currently under construction, primarily in Wrocław, Upper Silesia, and Warsaw.
• New supply totaled 611,000 sqm, with the largest growth recorded in Warsaw (217,000 sqm) and Wrocław (141,000 sqm).
• The vacancy rate stands at 7.99%, showing significant regional variations. The lowest levels were observed in Szczecin (2.9%) and Kraków (3.97%), while the highest were in Western Poland (17.2%) and Kielce (16.1%).

What Else Can You Find in the Report?

• Detailed regional data – supply, vacancy rates, and planned investments across Poland’s regions.
• Market concentration map – the largest assets and future projects.
• Growth dynamics analysis – insights into projects under construction and planned expansions.
• Comparison of major markets – including Warsaw, Wrocław, and Poznań.
• Data on new investments – key figures and locations shaping the sector’s future.

Expert Insights – What Do Specialists Say About the Market’s Future?

Tomasz Puch, Founder & CEO at BTV, emphasizes that Poland’s industrial market remains attractive to investors, though many are adopting a wait-and-see approach. “The increase in net absorption, reflecting real demand for additional warehouse space, is critical for making further investment decisions,” he highlights. Given the current macroeconomic challenges, both investors and tenants are focusing on sustainable and eco-friendly properties, which are gaining in popularity.

Paweł Sapek, SVP, Regional Head Central Europe at Prologis, notes that 2024 has been a challenging year, although some positive signals have emerged. The October PMI increase to 49.2 points and the World Bank’s upgraded GDP growth forecast for Poland are promising. “Clients are placing more emphasis on the quality of buildings and additional services. At Prologis, we have introduced the Essentials platform, which allows clients to select tailored service packages,” he explains.

The current market situation influences investors’ strategic decisions, focusing on potential leasing opportunities and minimizing vacancy risks. Our report provides detailed regional data on space availability as well as key ESG trends shaping the future of the industry.

Wojciech Kosiór, Director of The Property Development Department at MDC², believes that one of the main challenges that has somewhat hindered the development of warehouses is the availability of financing. “One of the primary challenges that stalled warehouse development has been access to financing. Today, new buildings constructed in compliance with EU taxonomy requirements more readily obtain funding. Investors are focusing on assessing the financial health of tenants, with a preference for financially stable companies to minimise the risk of insolvency or bankruptcy,” he says. He also highlights other challenges, including the limited availability of land in prime locations.