by Property Forum | Report

The industrial and logistics sector continues with strong momentum while large scale office transactions have slowed in European investment volumes, as many countries saw overall activity halve in comparison to Q1 2020, notes Colliers. In Poland, liquidity is returning to the office market, which can be confirmed by the number of transactions.


Momentum returned to the market with €1.27 billion in total investment volume in Q1 2021, the third-best first quarter after Q1 2018 and Q1 2020 (preliminary results). The industrial and logistics sector continues to attract strong investor interest with yields continuing to compress.

“58% of total volume in Q1 2021 was allocated outside of Warsaw, driven by logistics deals for a total of €350 million,” says Piotr Mirowski, Senior Partner, Head of Investment Services, Colliers.

Last quarter showed that liquidity is returning to the office market, which can be confirmed by the number of transactions — 11 separate deals with 22 assets across Poland. A number of office transactions are expected to close in Warsaw in Q2 2021 as investor sentiment towards the office sector returns.

“Capital is looking for core product with strong location and income fundamentals – we expect that prime yields will continue to decrease in the coming quarters. Liquidity is picking up for non-central locations, driven by value-add buyers,” adds Piotr Mirowski.