The third quarter of 2022 completes the dynamic new supply period observed in the Polish office market in recent years. Between January and September 2022, developers delivered 39 new investments, which increased the sector’s total stock by 560,100 sqm to over 12.7 million sqm. The period under review also registered intense activity on the demand side. At the end of Q3 2022, more than one million sqm was leased across Poland. However, the office market, like other sectors of the commercial real estate market, faces many challenges, including rising energy costs or the expected supply gap and rising rents. AXI IMMO presents data summarizing Q3 2022 in the Polish office market.

Like years ago, the Polish Private Rental Sector is going through a blooming time as each commercial real estate sector segment. It requires a unification of offers, greater standardization of available space, and self-professionalization. One of the first spectacular transactions involving the PRS was in 2016 and the purchase of 72 apartments in the Złota 44 building in Warsaw by the German investment fund Catella Residential Investment Management. At the end of September 2022, this segment is formed by an offer of more than 8,500 apartments for rent spread across Poland's largest cities. The prospects for the development of the market remain very high, and it is mainly favored by market conditions and the structure of the residential sector in Poland. AXI IMMO, together with industry experts Inquiry and ThinkCo, presents data for the Polish institutional rental market in a publication, "Development prospects for the PRS market in Poland."

The total volume of investment transactions in H1 2022 amounted to almost €2.9 billion, which was more than 40% more than in the same period last year. The high value of investments demonstrates investors' continued strong interest in Polish investment products in all major categories, despite the new geopolitical situation and the war in Ukraine. AXI IMMO experts analyze the situation of individual sectors in the investment market in the first half of 2022 in Poland.

The warehouse sector in Poland remains in good shape after the first half of 2022. The market continues to see high tenant activity (3.7 million sqm; +12% y/y), generated mainly by e-commerce, retail chains, and logistics companies. At the end of June this year, developers delivered another 1.8 million sqm (+64% y/y), with the market still facing a shortage of vacant space. The high absorption rate is influencing decisions to start new investments. The result of 5.6 million sqm (+56% y/y) of projects currently under construction is the highest value recorded in the history of the entire sector. AXI IMMO summarizes the first half of the year in the warehouse market in the report "Polish Warehouse Market in H1 2022."

The Polish office market has more than 12.6 million sqm of modern space at the end of Q2 2022. Traditionally, Warsaw remains the leader in total stock, with eight major regional markets led by Krakow and Wroclaw not slowing down. An example is Tricity, which joined the ranks of office millionaires in the second quarter of this year. Optimism from rising demand is emerging from the market picture. AXI IMMO presents a data summary for the first half of 2022 on the Polish office market.

It's been a good, strong start to 2022 in Poland's office market, which offers hope that a long-awaited boom in demand is coming after a market slump. Companies have adapted to the new working conditions, and due to the easing of restrictions related to the covid-19 pandemic, they have launched a campaign to encourage employees back into offices. On the other hand, Warsaw and the eight largest regional markets, i.e., Kraków, Wrocław, Tricity, Katowice, Łódź, Poznań, Szczecin, and Lublin, may face a slowdown in new supply in the coming months. AXI IMMO looks at the current trends after Q1 2022 in the office market and analyses what will influence its development in the following months of the year.

The Polish warehouse market remained stable in Q1 2022, with a slight decrease observed on the demand side with 1.56 million sqm leased (-2.5% y/y). On the supply side, developers completed over one million sqm (+44% y/y) projects. A record-breaking 4.9 million sqm remains under construction, with factors such as inflation and rising material and contractor prices driving rental rates up. Not without matter for the entire sector is the geopolitical situation behind Poland's south-eastern border, which may temporarily increase the demand of tenants relocating their business from Eastern Europe in the following quarters of the year. AXI IMMO presented the results of the Polish warehouse market in the period January - March 2022 in the report "Polish Warehouse Market in Q1 2022".

In 2021, Poland's warehouse market recorded another outstanding result. The seven most important highlights included a record-breaking volume of investment transactions, take-up, and space under construction. The total industrial stock at the end of December 2021 amounted to more than 25 million sqm, with the vacancy rate indicating only 3.72%.

The warehouse will be built as a part of GLP Park Lędziny in Silesia and used as a regular distribution depot for Maspex Group’s beverage division. Omega Pilzno will handle warehouse logistics and transport as part of the tender. AXI IMMO brokered the transaction.

Renata Osiecka, Managing Partner at AXI IMMO talked to Property Forum about the new sources of demand on Polish warehouse markets, financing new logistics projects and forecasts for the nearshoring trend.