The Polish commercial property market recorded an investment volume of approximately €1.7 billion in the first half of 2025, according to a report by Avison Young. A total of 63 transactions were closed across all major sectors, with industrial assets attracting the highest share of capital. However, excluding the landmark Eko-Okna deal, individual transaction volumes mostly remained below €80 million. Institutional investors continued to act cautiously, while domestic capital is playing an increasingly prominent role.
The industrial sector accounted for 40% of total investment volume, driven by the €253 million sale-and-leaseback of two logistics facilities by Eko-Okna to Realty Income Corporation — the largest such deal ever recorded in CEE. Office deals, totalling €411 million, included both core assets in Warsaw and value-add investments in regional cities, where 13 of the 23 traded properties were located. Polish investors represented over one-third of the capital invested in this segment.
Retail parks and convenience centres remained the most traded assets in the retail segment, making up 59% of total retail investment volume. Highlights included the debut acquisition by Czech investor My Park and two redevelopment deals brokered by Avison Young. The residential segment accounted for €223 million, with PRS transactions in Warsaw and co-living assets in Gdańsk leading activity.
With interest rate cuts expected in the near term, investment strategies are expected to shift. Avison Young predicts that the current market environment presents a final window of opportunity to acquire assets at attractive prices before yields begin to compress.
