Polish Chamber of Commercial Real Estate (PINK) has published figures summarizing warehouse market in Poland for Q2 2023. The data is sourced from advisory companies from the commercial real estate sector (Axi Immo, BNP Paribas Real Estate, CBRE, Colliers, Cushman & Wakefield, Knight Frank, Newmark Polska, Savills) and includes information on modern warehouse stock, new completions, space under construction, take-up and vacancy levels.
- At the end of Q2 2023, total modern industrial and logistics stock reached over 30.6m sq m, with the largest markets being the Mazowieckie Voivodeship (6.27m sq m), the Śląskie Voivodeship (5.271m sq m) and the Łódzkie Voivodeship (4.326m sq m).
- Approximately 692k sq m of modern warehouse space was delivered to the market in Q2 2023. The highest level of new completions was recorded in Śląskie (158k sq m), Mazowieckie (132.5k sq m) and Lubuskie (108k sq m). New supply in H1 2023 overall reached approx. 2.596m sq m.
- Nationwide, 2.126m sq m of modern warehouse space was under construction at the end of June 2023. The Mazowieckie Voivodeship accounted for the highest share of this total (approx. 21.1%), followed by Łódzkie (17.7%) and Dolnośląskie (11.9%).
- The vacancy level reached 6.73% at the end of Q2 2023, which marks a 31 bps increase quarter-on-quarter and a 335 bps rise year-on-year. The highest vacancy was recorded in Świętokrzyskie (12.8%), followed by Lubuskie (10.6%) and Lubelskie (9.1%). The lowest share of available space was meanwhile recorded in Warmińsko-Mazurskie (0.4%), Małopolskie (1.2%) and Pomorskie (1.5%).
- Gross take-up in the logistics and industrial market reached nearly 1.04m sq m in Q2 2023, with Mazowieckie enjoying the highest demand (289k sq m leased), followed by Śląskie (approx. 167k sq m) and Dolnośląskie (nearly 135k sq m). Total gross take-up in H1 2023 stood at 2.24m sq m.
- New leases (including BTS agreements) and expansions accounted for the highest share of gross take-up in Q2 2023 – jointly nearly 66%. Renewals of existing leases accounted for approx. 34% of take-up.
