13:57 18 June 2023
Warehouse market in Poland reflects an economic environment
The Polish warehouse real estate market has slowed after a record period of growth that was achieved during the pandemic. Gross demand for warehouse space in Poland for the first quarter of 2023 totaled more than 982,000 sqm, a 35 percent y/y drop and an 18 percent decline compared to the five-year average. According to JLL's analysis, however, the first quarter of 2023 was better than the corresponding periods in 2019 and 2020. Most of the new demand was in Poland's major logistics regions.
"In the first quarter of this year, and for the first time since mid-2021, the volume of warehouse space under construction in Poland fell below 3 million sqm, totaling approximately 2.6 million sqm. Still, a significant portion, almost 50 percent, was space built on a speculative basis. This may illustrate the relatively optimistic approach of developers, who expect a gradual return in tenant activity," Tomasz Mika, Head of Industrial Agency, JLL, concluded.
(WBJ)
