Poland's commercial real estate investment market exceeded €1 billion in Q1 2026, marking the best year opening in four years, according to a JLL report.
The last time the €1 billion barrier was crossed in Q1 2022. However, this year's achievement came under conditions of significantly higher financing costs than four years ago. The result confirms the continuation of the upward trend in investment activity observed consistently since 2023.
Compared to the same period last year, investment growth was recorded across all sectors. The logistics market saw transaction volumes of nearly €450 million. Sale and leaseback transactions made a significant contribution to this result.
"In the first quarter of this year, the logistics sector enjoyed the greatest investor interest, who focused on assets with long lease agreements," says Sławomir Jędrzejewski, Head of Logistics Investment at JLL. "Further large transactions in this segment are expected in the first half of 2026. We can also see the finalisation of significant transactions from all other sectors on the horizon, confirming the growing confidence of large institutional players in the Polish market."
Sale and leaseback transactions are gaining popularity beyond the logistics sector. The largest retail deal of the first quarter was the sale of eight Auchan hypermarkets, acquired by Hungarian investor Adventum. The previous owner will remain a tenant in these properties for the next 15 years, making it one of the largest retail transactions of this type in history. In the office sector, activity mainly involved transactions for individual medium and smaller assets, supplemented by several larger deals.
