2025年第四季度波兰仓库市场

Investment Rating - The report indicates a strong investment outlook for the warehouse market in Poland, with continued participation from international investors confirming its attractiveness and stability [5][17]. Core Insights - The total warehouse take-up in Poland reached 6.6 million square meters in 2025, marking a 14% increase compared to 2024 and representing the third-highest annual result on record [10][5]. - The total modern warehouse stock in Poland exceeded 36.6 million square meters by the end of 2025, although new supply saw a significant decrease of 35% year-on-year [6][4]. - The vacancy rate at the end of December 2025 was 7.4%, down by 0.8 percentage points from Q3 2025, reflecting strong demand across various markets [15][4]. Supply Summary - By the end of 2025, the existing warehouse stock was 36.6 million square meters, with only 1.7 million square meters of new supply delivered, a notable decrease from previous years [6][4]. - The most significant new space was delivered in the Wrocław region (approximately 300,000 sq m), Upper Silesia (approximately 295,000 sq m), and Warsaw region (approximately 270,000 sq m) [7]. - Approximately 1.8 million square meters were under construction at year-end, with 60% of this space secured through pre-let agreements [8][9]. Demand Summary - Demand for warehouse space remained robust, with total take-up reaching 6.6 million square meters, driven primarily by 3PL operators and retail chains [10][12]. - The final quarter of 2025 saw nearly 2.2 million square meters leased, an increase of over 40% compared to Q3 [11]. - Renewals accounted for 52% of total take-up in 2025, while new leases made up 41% and expansions 7% [13]. Rental Rates Summary - Asking rental rates for warehouse space remained stable, with big-box logistics facilities ranging from EUR 3.80 to EUR 5.00 per square meter per month, and city logistics schemes between EUR 5.00 and EUR 7.50 [16][4]. Investment Market Summary - The warehouse investment market in 2025 reached nearly EUR 1.5 billion, an 11% increase year-on-year, with a 17% rise in the number of transactions [17][18]. - U.S. capital dominated the investment market, accounting for 38% of total volume, with significant transactions including the acquisition of Eko Okna assets for EUR 253 million [18].