Warehouses in Poland remain one of the most sought-after assets
Warehouses in Poland continue to attract investor attention. In the first half of 2025, the industrial and logistics real estate market showed positive dynamics. This indicates its stability amid domestic and global changes.
At the end of the first six months of 2025, industry analysts recorded the following indicators:
1. The total supply increased by 7%, reaching over 36 million square meters.
2. The number of new facilities decreased annually.
3. The volume of projects under construction decreased by 26%.
4. Rental rates remained stable in nearly all regions of the country.
Analysts noted that Poland remains an attractive market for investors. Strong fundamentals and activity in the acquisition sector are key factors in this.
Overview of investment activity in the warehouses real estate market
In the first half of 2025, the warehouse real estate sector attracted €694 million in investments. This figure represents a 135% increase compared to the same period in 2024. Industrial and logistics facilities accounted for 40% of the total investments. Sale-and-leaseback transactions significantly contributed to the sector’s growth. The largest was the sale of two properties by Eko-Okna. Realty Income paid €253.5 million for the assets.
Grzegorz Chmielak from AXI IMMO has noted a return of capital to the market. This trend is primarily observed in the warehouse real estate sector. Properties with long-term lease agreements remain the most appealing to investors. Demand is observed in popular logistics centers.
The total volume of sale-and-leaseback transactions reached nearly 3 million square meters, a 10% increase from last year. However, this growth occurred due to one large transaction. Analysts recorded a 17% decline in the segment of new leases and extensions.
During this period, the number of contract renewals increased. This is due to leases signed in 2020–2021 expiring.
Market demand varies by region. Traditionally, the following markets dominate in Poland:
1. The Mazovia Province became the leader in terms of lease volume with 566,000 sq m.
2. The Silesia region ranked second in terms of activity with 524,000 sq m.
3. The Lower Silesian Voivodeship took third place with 429,000 sq m.
The vacancy rate decreased slightly from 2024, reaching 8.2%. This indicates a sector transformation towards build-to-suit and pre-let. The largest amount of vacant space is in the Lubusz Province (18.4%), followed by the Świętokrzyskie Province (17.2%).