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Market Insights | Annual Report 2022

We are pleased to present you with the next edition of the Market Insights report summarising the situation on the commercial property market (investment, office, retail, warehouse, PRS) in Poland in 2021.

Despite the persistence of COVID-19 pandemic, which has a strong negative impact on business activity with lockdowns and travel restrictions in 2021, the uncertainty faded away and investors’ sentiment returned in a powerful way to the real estate investment market in Poland. CEE-6 region recorded EUR 11.1 bn of transactions what is a 4% increase in comparison to 2020 (EUR 10.6 bn). Poland has strengthened its position as the dominant regional destination with a record-high 57% share in CEE-6 followed by Czech Republic (16%) and Hungary (11%).

Poland reached EUR 6.3 bn in total investment volume (including PRS forward funding projects), a 20% increase after EUR 5.3 bn in 2020. Year 2021 ended with the 3rd best historical investment volume, despite the COVID-19 pandemic still in force. Nearly half of the investment volume was generated by logistics & industrial assets and 25% to offices mostly in Warsaw. Core office prices have returned to the pre-pandemic levels and in certain instances set new benchmarks. Yields in the logistics & industrial sector decreased over the entire year to new lows accompanied by record-high transaction volume.  50% of the deployed capital originated from Western European investors – Germany, Sweden, France, Austria, 14% from USA and Canada. CEE capital spent 0.5 bn EUR for Polish properties with a ca. 8% market share – similar level to APAC-based capital.

Key findings:

  • Increasing investor interest in office assets in Warsaw and regional cities
  • Spectacular transactions in the institutional rental housing sector
  • High volume of new supply in the Warsaw office market
  • A record-breaking year on the industrial and logistics space market in Poland
  • Developers’ activity on the retail market focused on small cities
 

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Related Experts

Dominika Jedrak

Director

Warsaw

Dominika joined Colliers International in 2011 at the position of Head of Research and Consultancy Services, where she is responsible for managing and coordinating the work of the department, carrying out of the projects for external clients, preparing reports, etc. Dominika is related to the real estate industry since the beginning of her career. 

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