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.

At the recent CEE Property Financing Update 2025, with Agata Jurek-Zbrojska, Partner and Head of Real Estate and Construction at CMS Poland, moderating the discussion, Renata McCabe Kudla (Grupo Lar Poland), Bartłomiej Oset (NDI Development), and Waldemar Wasiluk (Victoria Dom) explored the evolving landscape of residential real estate investment in Poland. The conversation revealed a landscape shaped by sharp increases in development costs, shifting demand, and regulatory complexity.

Warsaw's office market is entering a mature phase, characterised by concentration of new supply in central zones and historically low vacancy rates in the city centre. According to Savills Poland's latest report, 88,700 sqm of new space was delivered from the beginning of the year to the end of the third quarter, while the volume of projects under construction dropped by 50%.

The Polish Commercial Real Estate Chamber (PINK) published data on Warsaw's office rental market for Q3 2025. By the end of September 2025, modern office space resources in Warsaw exceeded 6.245 million sqm, with the capital's market adding one office project during the third quarter.

UDI Group has announced the completion of the second stage of the Ursus Classic residential project in the western part of the Polish metropolis.

HB Reavis has completed a €510 million refinancing of Varso Place, its flagship Warsaw development, with two new banks joining the credit consortium. The financing increased by €35 million from the previous €475 million loan on improved terms.

P3 Logistic Parks is expanding its presence in Blonie near Warsaw after acquiring an 8.8-hectare plot adjacent to its existing P3 Blonie park. The company will construct a new facility with 41,391 sqm of total leasable area, comprising 39,420 sqm of warehouse space and 1,971 sqm of offices.

Xior Student Housing has completed the acquisition and opening of the Wenedów student residence in Warsaw, Poland. The company acquired the remaining shares in the development from joint venture partner Solida Capital, gaining full ownership after initially holding a 25% + 1 share interest.

Construction of the second phase of the Skyliner office complex, owned by the Karimpol Group, has reached the halfway point. At 65 metres high, the 15th floor walls are currently being built, marking half of the target height. Each floor is constructed in five days, with completion scheduled for Q4 2026.

Green House Development is building Royal Garden Wilanów, a three-story apartment building in Miasteczko Wilanów surrounded by an 8,000 sqm private park - larger than a full-size football pitch. Construction is progressing on schedule with completion planned for the end of 2026.