Poland's property investment market demonstrated stability in the first three quarters of 2025, with total transaction volume reaching €2.6 billion across 105 deals, closely matching 2024 results. Polish capital gained momentum, representing 23% of total investment volume compared to 10% in the same period last year, capitalising on pricing opportunities while core capital remained cautious with only two transactions exceeding €100 million, Avison Young reports.
The office and industrial sectors led market activity by volume. Office transactions saw over 50% participation from Polish investors, reflecting growing domestic confidence. The sector recorded €899 million in investment volume across 36 transactions, with the largest being Mennica Polska's acquisition of a 50% stake in Mennica Legacy Tower. Other notable deals included prime Warsaw buildings Vibe, Plac Zamkowy - Business with Heritage, and Wronia 31, plus High 5ive I & II in Krakow.
Industrial properties generated €873 million in investment volume, with sale and leaseback transactions accounting for 44% of the total. The landmark transaction involved two Eko-Okna properties sold to Realty Income, representing the largest sale and leaseback deal in the CEE region. Over half of industrial investment volume occurred outside Poland's major markets, with 17% in emerging regions like Bydgoszcz and Rzeszów.
The retail sector achieved €453 million in investment volume, with retail parks and convenience stores dominating activity. These formats accounted for two-thirds of all transactions and 56% of total volume. Regional shopping centres emerged as the third most attractive asset class, with six centres sold across four transactions. Czech investor My Park's acquisition of a 10-asset A Centrum convenience portfolio was a standout transaction.
Poland's residential investment market recorded €223 million in volume, with €150 million allocated to three PRS projects in Warsaw. AFI Europe completed two transactions, while Xior Student Housing acquired one asset from Syrena RE. The market anticipates Vantage Development's acquisition of 18 Resi4Rent assets, representing over 20% of currently operating PRS units in the country.
