PINK (Polich Chamber of Commercial Real Estate) has published figures on the Polish warehouse market in Q4 2024. The data is sourced from advisory companies from the commercial real estate sector (Axi Immo, BNP Paribas Real Estate Poland, CBRE, Colliers, Cushman & Wakefield, Knight Frank, Newmark Poland and Savills) and includes information on modern warehouse stock, new completions, space under construction, take-up, and vacancy levels.
At the end of Q4 2024, total modern industrial and logistics stock reached over 34.5 million sqm, with the largest markets being the Mazowieckie Voivodeship (7 million sqm), the Śląskie Voivodeship (5.75 million sqm), and the Łódzkie Voivodeship (4.89 million sqm).
Approximately 507,000 sqm of modern warehouse space was delivered to the market in Q4 2024. The highest level of new completions was recorded in the Dolnośląskie Voivodeship (251,800 sqm) and the Mazowieckie Voivodeship (143,400 sqm). New supply in Q1-Q4 2024 exceeded 2.6 million sqm.
Nationwide, 1.76 million sqm of modern warehouse space was under construction at the end of December 2024. The Śląskie Voivodeship accounted for the highest share of this total (approx. 22%), followed by Dolnośląskie (20%), and Łódzkie (13%).
The vacancy level reached 7.5% at the end of Q4 2024, which marks a 50 bps decrease quarter-on-quarter and a 10 bps rise year-on-year. The highest vacancy rate was recorded in Lubuskie (19.0%), followed by Świętokrzyskie (16.9%), and Lubelskie (12.5%). The lowest share of available space was meanwhile recorded in Podlaskie (0.0%), Warmińsko-Mazurskie (2.3%) and Opolskie (2.4%).
Gross take-up in the logistics and industrial market reached nearly 2.026 million sqm in Q4 2024, with Mazowieckie enjoying the highest demand (565,000 sqm leased), followed by Łódzkie (nearly 365,000 sqm), and Śląskie (over 256.7,000 sqm). Total gross take-up in Q1-Q4 2024 stood at 5.82 million sqm.
Lease renewals accounted for the highest share of gross take-up in Q4 2024 – 47,6%. New leases (including BTS agreements) and expansions accounted for 45,6% and 6,8% of take-up, respectively.
