Marketbeat: Poland warehouse market - 2019 summary [REPORT]

02 march 2020

2019 was another very successful year for the Polish warehouse market. Both developers and tenants remain extremely active, as shown by the record supply of over 2.7 million sq m and the high demand, which has reached 4 million sq m for the third consecutive year.
  • E-commerce remains the engine of high demand for warehouse space in Poland.

  • An increase in the realization of speculative investments, as well as the relocation of larger lessees to new schemes, contributed to an increase in the availability of warehouse space 

  • A high level of demand as well as lower price dynamics in the building sector than the previous year contributed to a stabilization of rental fees for most regional markets.

  • The investment market recorded a record number of 38 transactions. The combined transaction volume was 1.4 bln Euros – the second highest result in history.

  • A high demand for workers continues to generate a further rise in salaries in the warehousing sector, with significant variation observed, depending on location.

At the end of 2019, the overall supply of modern warehouse space in Poland exceeded 18.6 million sq m, and since the beginning of the year a record amount of 2.72 million sq m was handed over.

The warehousing market in Poland continues to grow at a dynamic rate. Record results on the supply side are the result of both a high demand for modern warehouse space (mostly in 2018), as well as access to capital and trust of investors, who are actively seeking attractive industrial property in our country – says Joanna Sinkiewicz, Partner and Director of the Department of Industrial Space and Logistics in Cushman & Wakefield Poland.

Outlook

The most important trends observed last year will also continue in 2020. The demand for modern warehouse space will continue to be strongly fuelled by dynamic growth in the sector of e-commerce.

Companies representing a wide range of industries (electronic, clothing, FMCG, automotive) are growing their multi-channel trade services at an increasing rate, which is influencing the diversification of warehousing products and the growth of “last mile” warehouses, courier hubs and also BIG-BOX-type dedicated warehouses. We will also observe continued growth in the automation of logistical processes and due to climate changes and changes in the labour market we will also see increasing pressure for the development of sustainable construction in terms of creating pleasant work environments and optimizing building maintenance costs – summarizes Joanna Sinkiewicz.

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