Emil Domeracki, director of the Land department at Colliers International
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Commercial and warehouse sector unchanged
The retail market in Poland has already reached a state of stable saturation with retail space in large and medium-sized regional cities. Most of the facilities that opened last year were built using land banks and on land secured in previous years.
– Due to legal restrictions and the saturation of retail space in the country, as well as the development of e-commerce, the construction of classic shopping centres is gradually giving way to modern facilities or mixed-use facilities. – explains Emil Domeracki.
In the warehouse sector, developers' decisions are primarily shaped by access to employees and logistics infrastructure. The growing importance of Poland on the European logistics market and the development of the e-commerce market were reflected in the tenants' activity. However, from the perspective of the investment land market, the year 2019 did not bring any drastic changes in prices or preferred locations.
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Predictions for 2020
According to Colliers experts, in the coming year we will still observe a gradual slowdown in the pace of land price increases. Due to significant demand and favourable macroeconomic conditions, the market will still be dominated by the housing sector, and new strategies adopted in 2019 by developers will become more common.
Industrial and post-industrial areas located in large cities will continue to be transformed into residential and commercial buildings. A similar fate awaits aging office buildings from the beginning of the century. Apartments for rent and modern dormitories will gain importance both as a method of using unfavourable planning records and as investment products.
Purchases of commercial land will be focused around filling retail gaps in medium and small cities. No drop in prices is expected, but the number of transactions will remain low.
