Marketbeat: Poland warehouse market - Autumn 2009 [REPORT]

The accumulated supply resulted primarily from the fact that the decisions to construct these schemes were made in mid-2008, i.e. at the time when the supply of new space was underestimated. The prevailing trend on the supply side in the first half of 2009 was the postponement of speculative investments planned by developers, the narrowing down of development activity to completing built-tosuit investments, and the focus on leasing the existing schemes and those under construction. The volume of transactions made between January 2009 and June 2009 was two and a half times lower than a year earlier and amounted to 309,000 sq.m. The vacancy rate at the end of June 2009 reached 16.5%, compared to 8.5% in the corresponding period of 2008.