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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”.
Logistics is growing, but the first signs of slowdown are visible on the horizon
Polish market for modern logistic, warehouse and industrial spaces closed the last quarter with assets of 27.4 million sqm.
Changes at BNP Paribas Real Estate Poland
Starting at the beginning of December, Małgorzata Fibakiewicz will lead the Office Agency, and Justyna Magrzyk-Flemming will become the Head of Business Services.
The commercial real estate investment market has still something to say
In total, in the third quarter, Polish commercial real estate investors spent just over EUR 1.4 billion. Most of it was invested in logistics, warehousing, and industrial projects. Players from the United States were particularly active.
Retail real estate enshadowed by inflation
At the end of September, the total existing retail space in Poland approached 15.5 million sqm, with new quarterly supply reaching 70,000 sqm. As in previous quarters, retail parks performed very well.
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