Poland’s warehouse and logistics market is truly booming at the moment. The data for the first half of 2018 shows that, following last year’s success when the total volume of modern warehouse space increased by 21%, the market is not slowing down.
One record after another
Central Poland growing the fastest
Developers are the most active in Central Poland, where nearly 630 000 sqm of space is under construction. Traditionally, the second strongest region, i.e. Upper Silesia, upholds its position with nearly 320 000 under development. Additionally, the undiminishing performance of the Wrocław region and the corridor along the newly developed S3 expressway also deserve a mention with respectively 217 000 sqm and 183 000 sqm under construction
Patrycja Dzikowska, Head of Research and Consultancy, Central and Eastern Europe, BNP Paribas Real Estate Pola
Vacant space in the capital
Rent and location determined by workforce availability
Despite strong competition between the market’s leading players, we have observed upward pressure on rents in the last few months. This trend results mainly from increasing construction costs and limited availability of workforce. We have to remember that the high level of activity in the construction sector means labour shortage, which in turn has an impact on completion dates for new schemes. General contractors, driven by the workforce exerting upward pressure on wages, the low level of unemployment and further increases in the cost of materials, raise the prices for their services. And this will ultimately translate into higher rents
Martyna Kajka, Consultant, Industrial and Logistics Department, Central and Eastern Europe, BNP Paribas Real Estate Poland
More details to be found in the At a Glance, POLAND’S INDUSTRIAL AND WAREHOUSE MARKET, Q2 2018, report.
Head of Marketing & PR CEE at BNP Paribas Real Estate Poland