Poland's property investment market recorded €4.5 billion in transaction volume during 2025, representing a 13% year-on-year decline. Despite the lower total, the market demonstrated stability with 151 transactions completed, broadly in line with the previous year's 154 deals, according to a report by Avison Young.
The fourth quarter alone accounted for over 40% of the annual volume. Unlike 2024, when the 10 largest transactions represented nearly 50% of total investment, 2025 was characterised by numerous smaller deals. Polish capital significantly increased its market presence, accounting for 18% of total investment volume compared to just 9% in 2024.
The office sector contributed 40% of total investment volume, primarily from Warsaw-based buildings. Notable transactions included Mennica Polska's acquisition of a 50% stake in Mennica Legacy Tower and the divestment of Wola Center to Trigea Real Estate Fund. "Domestic capital, responsible for 30% of sector's volume and 50% of number of office transactions, is continuously prominent in the office investment sector, showing a rising appetite for smaller formats," said Marcin Purgal, Senior Director, Investment at Avison Young.
The industrial sector maintained stability with €1.5 billion in investment volume, a 10% year-on-year increase. The sector featured several portfolio transactions and sale & leaseback deals, including the landmark Eko-Okna transaction with Realty Income, which was the largest sale & leaseback deal ever completed across the entire CEE region. "With numerous transactions currently in progress, Poland's industrial investment market is poised to deliver record volumes in 2026," commented Bartłomiej Krzyżak, Senior Director, Investment at Avison Young.
The retail sector recorded €859 million in transaction volume, a 48% decline from 2024. The year was dominated by retail parks, with 70% of completed deals involving retail parks and convenience retail. Major portfolio transactions included My Park's acquisition of 10 A Centrum assets and Trei Real Estate's divestment of 25 retail parks to Ares Management Corporation and Slate Asset Management.
