Fight for land escalating, negotiations resembling auction
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Poland’s land market is experiencing strong growth despite a weaker real estate climate, with land prices rising faster than housing prices. Investors are competing aggressively for residential development sites, especially in major cities such as Warsaw, Kraków, and Gdańsk, where some plots increased in value by 20–30% y/y. Demand is also growing in smaller regional markets with lower entry costs. Investors view land as more resilient and less volatile than apartments, which face oversupply and pricing pressure in some cities.
Retail park developments remain active, although market saturation is becoming a concern. Meanwhile, institutional investors are increasingly targeting PRS rental projects and redevelopment opportunities involving aging buildings.
