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Polish retail market performs well: retail parks dominate new openings as vacancy rates fall
In Q3 2024, the Polish retail market expanded by another 116,000 sqm. With average retail vacancy rates in the largest Polish cities falling and tenants posting rising turnover levels, predictions of the imminent decline of shopping centres in Poland have proven premature, says BNP Paribas Real Estate Poland in its latest report “At a Glance: Modern Retail Market in Poland, Q3 2024”.
Polish industrial and logistics market enters the European top three
With its total warehouse, industrial and logistics stock surpassing 30.6 million sqm at the end of June 2023, the Polish market entered the European Union’s top three.
Office developers and tenants remain cautious
Leasing activity in Poland’s regional city office markets remained stable in the April to June period while developers continued to exhibit caution with regard to commencing new projects.
Polish CRE investment remains under pressure from global monetary policy
Investment volumes in the second quarter remained under strong pressure from interest rate hikes and rising treasury bond yields across Europe.
A good Q2 2023 for the office sector in Warsaw
The report’s authors also note that despite renewed construction activity and new starts, developers remain cautious about commencing projects.
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