In 2026, the Polish real estate market will enter a phase of stable growth, driven by good macroeconomic conditions and structural changes on the demand side. CBRE's forecasts included in the “2026 Poland Real Estate Market Outlook” report show that Poland will remain one of the fastest growing countries in Europe, and the growing investor activity will cover not only commercial real estate, but also – more and more clearly – the housing market and institutional rental.
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Forecasted GDP growth of 3.6%, inflation close to the NBP target (2.7%) and low unemployment of 3.1%. they create stable environment for the real estate market. An additional impulse will be funds from the KPO and the improvement in the export situation, including the gradual economic recovery in Germany. In such an environment The key trend is to move away from mass supply in favor of projects better suited to the needs of users and tenants.
The housing market and PRS are crucial for the entire industry
Residential will remain the most important segment of the real estate market in the coming years. Limited demand for apartments for sale – compared to the period of low interest rates or the Safe Credit program – means that more and more households remain on the rental market. This, in turn, creates very good conditions for further development of the PRS sectori.e. institutional apartment rental.
PRS
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CBRE
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In the last five years, almost all of them have hit the market 24.7 thousand apartments for institutional rentwhich constitutes 87 percent. current resources. In 2025 alone, 5,821 units were put into use, and another 6,200 units are planned for 2026many of which are already at an advanced stage of implementation. At the end of 2025, it was operational in the largest cities over 28.5 thousand PRS apartments in 153 projects.
Demand remains very high — the average vacancy rate is only 3.5 percentand after the first occupation, the average occupancy rate reaches 98%. The market is gradually diversifying: apart from classic apartments for long-term rental, there are also apartments available for rent co-living projects and investments combining PRS functions with private dormitories or short-term rental.
At the same time, it is growing dynamically segment of private student homes. In 2025, record-breaking completions were made 3,800 places in 12 facilities, and a similar result is also possible in 2026. In the long term, senior investments will also become more and more important, responding to demographic challenges and an aging society.
Offices and logistics: quality instead of scale
The change in priorities is also visible in the office sector. Tenants focus on high-quality spaces located in central business districts. Limited supply in prime locations leads to an increase in rents and increased interest in second-choice areas, as well as flexible forms of lease, including coworking.
A similar trend applies to the warehouse market. After a period of dynamic expansion, supply is stabilizing, and investors are increasingly focusing on modern facilities, good locations and technological solutions. Poland's increasing importance in global supply chains favors further development of the sector, although in a more selective formula than before.
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Trade and hotels benefit from better sentiment
There is continued interest in retail parks and discount formats, supported by growing consumer purchasing power.. Traditional shopping centers are being redefined – investors are betting on optimization of the offer, development of retailtainment concepts and attracting international brands.
The revival is also visible in hotels. Lower interest rates and improved financing conditions are encouraging new investments, although supply remains limited. After a record 2025 for overnight stays, demand is expected to continue to grow in 2026, supporting average price growth.
Real estate market in 2026: stable growth and new niches
Everything seems to indicate that 2026 will be a time of consolidation and maturation for the real estate market. A stable macroeconomic environment, the growing participation of local investors and the decreasing difference in price expectations between the parties to the transaction should stimulate investment activity. The housing market will benefit the most from this – both in the institutional rental segment and in new, specialized formats responding to demographic changes and the lifestyle of Poles.
