The Polish Chamber of Commercial Real Estate (PINK) has published aggregated data on the warehouse and industrial space market in Poland for the third quarter of 2025, prepared on the basis of information from consulting companies: Axi Immo, BNP Paribas Real Estate Poland, CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank, Newmark Polska and Savills.
At the end of September, the resources of modern warehouse and industrial space in Poland amounted to 36.4 million sq m.and the largest markets are the Masovian Voivodeship with 7.28 million sq m, the Silesian Voivodeship with 6.17 million sq m and the Lower Silesian Voivodeship with 5.30 million sq m. In the third quarter, 398.4 thousand sq m were delivered. sq m of new space, which means a decrease by 12%. compared y/y. The most new supply appeared in the Łódź voivodeship (144.6 thousand sq m), Masovian voivodeship (87.8 thousand sq m) and Lublin voivodeship (57.5 thousand sq m). At the end of September, 1.56 million sq m were under construction, i.e. 20 percent. less than a year earlier, with the largest share of the Masovian (34%), Pomeranian (14%) and Silesian (12%) voivodeships.
The vacancy rate remained at 8.2%.which means no changes compared to the previous quarter and an increase of 0.1 percentage points compared to the same period in 2024. The highest values were recorded in the Lubusz and Świętokrzyskie voivodeships (17.2 percent each), Lubelskie (13.2 percent) and Lower Silesia (10.7 percent), and the lowest in the Opole and Podlaskie voivodeships (0 percent each), West Pomeranian voivodeship (2.1 percent) and Warmian-Masurian Voivodeship (2.3%).
Gross demand in the July-September period amounted to 1.59 million sq m, which means a huge increase of 42%. y/y. The greatest interest from tenants was in the Masovian Voivodeship (470,000 sq m), Lower Silesia (280,000 sq m) and Łódź Voivodeship (253,000 sq m). The demand structure was dominated by contract extensions, which accounted for 47 percent, while new contracts, including BTS-type projects, accounted for 44 percent and expansions for 9 percent.
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The voice of experts
— Since the beginning of the year, we have signed leasing agreements for approximately PLN 189,000. square meters of space. After a very good third quarter we expect record rental value in the fourth quarter — the market looks very promising, emphasizes Radosław T. Krochta, president of MLP Group. The company focuses on urban logistics projects that have high growth potential and are resistant to economic downturns.
Damian Kołata, head of commercial at 7R, draws attention to tenants' caution: – We currently have 1.5 million sq m under construction, so only 200,000. sq m more than in the Czech Republic, where the warehouse stock is almost three times lower. This proves o a very cautious approach to new projects – says. At the same time, gross demand in the three quarters amounted to 4.6 million sq m, up 21%. more than a year earlier. The knocker also points to growing importance of e-commerce, cross-docks and cold storage: – The Polish market is increasingly called 'lockerland', which is justified by the huge popularity of parcel machines – he says.
— Within nine months, we signed contracts for nearly 1.2 million sq m demand is driven by e-commerce, contract logistics and advanced manufacturing – says Marek Dobrzycki, Partner at Panattoni. In his opinion, the market fundamentals are strong: – Expected reductions in interest rates, availability of employees and infrastructure support further growth. 2026 will be a year of intensive development, especially in the area of production and data centers, he predicts.
Monika Rykowska, director of the Market Research and Analysis Department at Axi Immo, adds that the vacancy rate is constant at around 8%. makes developers are cautious about new investments, especially speculative ones. — We observe the greatest activity on large, liquid markets such as Warsaw and Upper Silesia. The last months of the year are usually the most intense, which may translate into an increase in demand at the end of 2025, he says.
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Forecasts for the fourth quarter and 2026.
Experts unanimously predict that the end of the year will be very active – numerous negotiations are being finalized and demand may reach record levels. In 2026, the market is expected to remain in good shape, with a strong nearshoring trend, the development of e-commerce, urban logistics and tailor-made projects. The importance of infrastructure will also increase data centers and cold storage warehouses.
