In the fourth quarter of 2024, Warsaw’s office market continued to experience stable occupier demand amid constrained new supply, with tenants seeking to secure spaces in the city centre and expecting sustainable solutions, reveals the latest report from BNP Paribas Real Estate Poland.

According to the latest report from BNP Paribas Real Estate Poland, Poland’s retail market experienced record growth in 2024, expanding at its fastest pace since 2015. This was driven by the strength of evolving retail parks. Another key report finding is the growth of the luxury goods market and the increasing practical use of AI in retail.

The Fortim group of companies, part of the BNP Paribas Real Estate alliance, recorded a turnover of around 11 million lei (€2.2 million) in 2024, up by 37 year-on-year, due to the diversification of its real estate consultancy services. 

Poland is one of the six largest higher education centres in Europe, ranking fifth in student population within the European Union and attracting an increasing number of international students. How many beds are available in the country’s student houses? How likely is private purpose-built student accommodation to meet the growing demand from the rising student population? These questions are explored in the latest report from BNP Paribas Real Estate Poland.

Amid technological advances, growing client demands, legal regulations and the need to urgently respond to economic developments, the commercial real estate market is increasingly being influenced by AI-based solutions. According to the latest report from BNP Paribas Real Estate Poland, sophisticated technological solutions are becoming - and will continue to be - key at all stages, from project planning and construction to tenant screening, property and energy management, and even investment.

Poland’s commercial real estate market is showing strong signs of stabilisation. According to the latest report by BNP Paribas Real Estate Poland, the total investment transaction volume for January to September 2024 exceeded €2.68 billion, marking a year-on-year increase of nearly 57%, with office assets being the top-performing sector.

In the third quarter of 2024, Poland’s regional city office markets demonstrated stability, though elevated vacancy rates remained a significant challenge, hindering development activity. The combined office stock of the eight key regional cities reached 6.73 million sqm. With 1.82 million sqm of office space, Kraków continued to lead the way, ahead of Wrocław (1.37 million sqm) and Tricity (1.06 million sqm), says BNP Paribas Real Estate.

Leasing activity on the Warsaw office market continues unabated despite low new supply levels, pushing the vacancy rate down to 10.7% Meanwhile, pre-lets are on the rise, indicating growing occupier interest in office buildings under construction, reveals the latest quarterly report from BNP Paribas Real Estate Poland.

In Q3 2024, the Polish retail market expanded by another 116,000 sqm. With average retail vacancy rates in the largest Polish cities falling and tenants posting rising turnover levels, predictions of the imminent decline of shopping centres in Poland have proven premature, says BNP Paribas Real Estate Poland in its latest report.

The Polish industrial and logistics market continues its strong growth momentum, reveals BNP Paribas Real Estate Poland in its latest report for the second quarter of 2024. With robust occupier activity and stable volumes of new construction, Poland is among the top European industrial markets.