Friday, 19 June 2026
Poland’s warehouse market remains broadly balanced, but industry experts are warning that conditions could tighten in selected locations if tenant demand continues to recover while new supply remains limited.
According to data from the Polish Chamber of Commercial Real Estate (PINK), Poland’s modern warehouse stock exceeds 37 million sqm, with a national vacancy rate of approximately 7 percent. At the end of March 2026, around 1.44 million sqm of warehouse space was under construction, with the largest share of new developments located in the Mazowieckie Voivodeship (37 percent), followed by Śląskie (15 percent) and Łódzkie (11 percent).
While the overall vacancy rate suggests that tenants still have options available, market participants note that conditions vary significantly by region and asset quality.
“The biggest mistake today would be to assume that the official vacancy rate guarantees a comfortable situation in the coming years,” said Tomasz Arent, Partner at SQM Advisory. “We are seeing signs of increasing demand, including activity from international occupiers, while developers remain cautious about launching speculative projects.”
Over the past two years, warehouse occupiers have largely focused on cost optimisation and lease renegotiations, while developers have limited new speculative construction, often requiring pre-leasing commitments before commencing projects. This has contributed to a more balanced market following the rapid expansion seen during earlier years.
According to SQM Advisory, demand from logistics operators and e-commerce companies has been gradually improving, particularly for larger units in established logistics locations. However, the consultancy notes that market conditions differ considerably depending on region, building quality and available unit sizes.
The availability of warehouse space remains particularly limited in some regional markets. PINK data show vacancy rates of 0 percent in Podlaskie, 1.1 percent in Opolskie and 1.4 percent in Zachodniopomorskie. However, these figures do not necessarily reflect conditions across Poland’s largest logistics hubs, where availability remains higher.
Developers continue to take a cautious approach to new investments amid financing constraints and economic uncertainty. Financial institutions are also applying greater scrutiny to new projects compared with previous market cycles.
Industry observers note that future market dynamics will largely depend on the pace of tenant demand growth. Should occupier activity accelerate significantly while development remains restrained, selected markets could experience declining availability and upward pressure on rents. However, current national vacancy levels suggest that the market remains broadly balanced overall.
“Tenants should continue to monitor market conditions and plan lease renewals well in advance, particularly in locations where availability is already limited,” Arent said.
While some analysts anticipate tighter conditions over the next several quarters, the extent of any market shift will depend on the strength of future demand, the pace of new development activity and broader economic conditions.
Source: PINK
