BIK: Credit market developments in April 2025

In April 2025, the Polish credit market recorded significant year-on-year growth in two loan categories: cash loans and housing loans. Banks and credit unions granted 21.6% more cash loans and 11.6% more housing loans compared to April 2024. At the same time, the number of installment loans dropped by 26.6% and credit card issuance fell by 5.5%. In terms of loan values, cash loans rose by 25.1%, housing loans by 17.7%, and credit cards by 0.9%, while installment loans declined by 8.8%.

During the period from January to April 2025, only cash loans saw an increase in the number of agreements (+25.1%) compared to the same period last year. Installment loans, housing loans, and credit card agreements declined by 28.6%, 17.3%, and 6.2% respectively. The value of cash loans rose by 35.6%, and credit card limits by 3.8%, while housing and installment loans fell by 14.9% and 11.5% respectively.

Installment loans experienced a sharp decline. The number of these loans dropped by 26.6% year-on-year in April, and their value decreased by 8.8%. According to Dr. hab. Waldemar Rogowski, Chief Analyst at the BIK Group, the fall is primarily due to a slowdown in low-value transactions, particularly those involving deferred payments transferred from the non-banking to the banking sector. Although some high-value loans were granted, which cushioned the overall decline in value, the market continues to be influenced by broader economic uncertainty. The average amount of an installment loan in April 2025 was PLN 2,275, up 24.3% from the previous year.

The cash loan segment continued its upward trend. In April, banks issued 21.6% more cash loans than a year earlier, with the total value of these loans increasing by 25.1%. Customers are increasingly taking out loans for higher amounts, often over PLN 50,000, driven by loan consolidation. Clients are combining existing liabilities into single loans, sometimes in the same bank or by switching to new providers. This strategy is supported by longer repayment terms or lower interest rates, increasing borrowing capacity. In the first four months of 2025, banks granted PLN 38.26 billion in cash loans. The average cash loan in April was PLN 26,864, marking a 2.9% increase year-on-year.

Housing loans also showed signs of recovery. Banks issued 11.6% more housing loans in April compared to the same month last year, and 3.7% more than in March. In terms of value, the increase was 17.7% year-on-year and 5.7% month-on-month. The total value of new housing loans in April reached PLN 8.13 billion, a level not seen since 2021, excluding the months impacted by the Safe Loan 2% programme. The average housing loan rose to PLN 436,870, 5.5% higher than in April 2024. This growth is likely tied to expectations of further interest rate reductions and favourable market conditions for buyers.

All four BIK loan quality indicators improved both year-on-year and month-on-month in April. The indicators remain at low, stable levels. According to Professor Rogowski, while credit quality is not currently at risk, ongoing monitoring is essential. He noted that legal risks—rather than traditional credit risk—pose a more significant concern for banks at present, particularly in relation to housing and consumer loans. Further interest rate cuts could support continued improvements in credit quality.

More than half of new BIK service users discover their data on the Darknet

More than half of the users who activated the new darknet monitoring feature offered by BIK (Credit Information Bureau) have found their personal data exposed on the darknet. The service, introduced as part of BIK Alerts, helps users detect whether their sensitive information has appeared on criminal marketplaces and provides immediate alerts and guidance in case of a data breach.

Concern over personal data security remains high in Poland. According to recent surveys, 84% of respondents are worried about data leaks. With information such as PESEL numbers, login credentials, email addresses, phone numbers, and even credit card details increasingly targeted by cybercriminals, awareness of the risk is growing. Around one-third of Poles have already encountered a personal data breach. Nearly 70% fear their data could be used for fraudulent loans, and over half worry it could be used for blackmail.

Personal information can be compromised through security breaches in institutions like schools, medical labs, online retailers, telecom providers, and social media platforms. Once leaked, this data may end up on the darknet, a hidden part of the internet where it is sold or traded by criminal networks. The anonymous nature of the darknet makes prosecution challenging and access risky even for regular users.

To address this growing threat, BIK introduced a new feature in April as part of its BIK Alerts service. The tool actively monitors the darknet for traces of users’ personal data and notifies them immediately via SMS if a breach is detected. After receiving the alert, users can log into their bik.pl account to view details of the incident and obtain recommendations on how to respond.

The service has already proven valuable, with more than 50% of its users receiving alerts about their data being found on the darknet. A large majority—80% of surveyed users—described the service as very useful. The annual subscription, which includes all features of BIK Alerts, costs PLN 48.

Data compromised in leaks can be used for various criminal activities, such as social media account takeovers, identity theft, and financial fraud. Methods of exploitation include phishing, fake investment schemes, and impersonation of institutions. According to survey results, 41% of people have encountered phishing attempts, 40% have been targeted through scams involving BLIK payments or impersonation of friends on social media, and 37% have experienced fraud attempts from criminals posing as bank employees.

Joanna Charlińska, a BIK expert, warns against assuming that protecting only one’s PESEL number is sufficient. Cybercriminals can use a variety of data points—bank details, scanned documents, email addresses, and phone numbers—to carry out attacks. She emphasises the importance of proactive monitoring and using services like BIK Alerts to reduce the risk of falling victim to such threats.

Andrzej Karpiński, Head of Security at the BIK Group, explains that navigating the darknet comes with its own risks. Simply accessing these networks can draw attention from cybercriminals. Therefore, relying on a trusted tool that monitors data exposure in this environment is a safer alternative.

As cyber threats evolve and personal data continues to be a key target, tools that provide early warning and concrete guidance are becoming increasingly essential. The integration of darknet monitoring into BIK Alerts reflects a growing demand for more comprehensive protection in an increasingly digital society.

Nhood Services Poland supports tenant expansion at Blue City Shopping Centre

Nhood Services Poland has continued its collaboration with Warsaw’s Blue City shopping centre by securing new tenants and expanding the centre’s retail offering. Over the past several months, the company has signed four lease agreements with brands in the fashion accessories, jewellery, and health and beauty segments. These additions are part of an ongoing effort to enhance the shopping experience at the centre.

As part of its property services, Nhood supports retail owners by managing the commercialisation of retail space. This includes developing tenant mix strategies, identifying potential tenants, negotiating lease terms, and coordinating the setup of new stores. The company currently works with Blue City, assisting in the expansion and diversification of its tenant portfolio.

In the last year, four new brands have signed leases at Blue City. The optical brand KODANO Optyk has expanded the centre’s health and beauty offering. Kamalion, a Spanish retailer focused on mobile fashion accessories, has also joined the tenant list. Verona, a Polish brand specialising in fashion jewellery, is preparing to open its store soon. In addition, the Polish brand Ochnik will introduce its latest retail concept in a new space of more than 500 square metres, with an opening planned between late summer and early autumn.

Blue City is a well-established shopping and entertainment centre in Warsaw, known for its wide selection of fashion retailers, dining venues, and leisure options. Its diverse offering and central location continue to attract shoppers from across the city and surrounding areas.

Commenting on the cooperation, Joanna Nowacka-Jankowska, Senior Leasing Manager at Nhood Services Poland, highlighted the productive relationship with the centre’s owner. She noted that discussions with additional brands are ongoing, as interest in expanding into Blue City remains strong.

Nhood’s leasing team comprises experienced professionals with a background in commercial real estate. They regularly participate in industry events and trade fairs, using their knowledge of the Polish retail market and international trends to support clients in developing effective leasing strategies and optimising tenant mixes in shopping centres.

Catella reports worsening housing shortage across Europe as rents rise and overcrowding grows

Rental prices in Europe continued to climb during the first quarter of 2025, while housing supply remained constrained and overcrowding in rental apartments increased. According to the latest Catella Residential Market Overview Q1/2025, covering 59 cities in 16 European countries, low construction volumes and sustained demand are putting further pressure on already tight markets.

Catella Investment Management’s Head of Research, Dr. Lars Vandrei, noted that despite persistent uncertainty in the broader economic and geopolitical context, the real estate market showed signs of modest price growth and yield stability. However, high demand for rental housing remains a dominant factor, reflected in both rising rents and a growing number of households facing overcrowded living conditions.

In the rental market, prices increased in 48 of the cities surveyed. The average monthly rent across Europe reached €20.02 per square metre, marking a 2.4% increase since the third quarter of 2024. Dublin recorded the highest average rent at €40.00 per square metre, also representing the steepest increase. London followed at €39.30, while Geneva registered €34.50, slightly lower than the previous period. At the lower end of the rental scale were Leipzig (€10.30), Liège (€11.05), and Graz (€11.10).

On the ownership side, prices for condominiums rose in 31 of the 59 cities analysed. The average price across these cities now stands at €5,696 per square metre, a 0.9% increase from Q3 2024. Geneva remains the most expensive housing market at €15,720, followed by Zurich (€13,870) and London (€13,440). In contrast, the most affordable home prices were found in Finnish cities such as Jyväskylä (€2,240) and Oulu (€2,370). Among the cities with the highest relative price increases were Madrid (+11.9%), Gothenburg (+10.5%), and Copenhagen (+9.6%).

Prime residential yields averaged 4.58% across the surveyed markets, unchanged from the previous reporting period. The lowest yields were reported in Stockholm (2.50%) and in Zurich and Geneva (2.70%), while higher returns were observed in Cork (6.25%) and major Polish cities including Krakow, Wroclaw (6.00% each), and Warsaw (5.75%).

In Germany, rents rose across all cities included in the study. Munich remained the country’s most expensive rental market at €24.50 per square metre, followed by Frankfurt (€19.50) and Stuttgart (€18.30). On the ownership side, Munich maintained the highest prices at €9,970 per square metre, just below the €10,000 mark reached in 2022. Frankfurt and Hamburg followed, while Leipzig remained the most affordable among Germany’s largest cities with an average price of €3,280. The lowest yields were also recorded in Munich, at 4.20%, while Leipzig offered the highest returns at 5.25%.

A special focus of the report highlights the rising levels of overcrowding in rental housing across Europe. Overcrowding is defined by the number of rooms available relative to the size and composition of a household. While the overall rate of overcrowding in the EU has slightly declined from 18.1% in 2014 to 16.9% in 2024, overcrowding among renters has increased significantly—from 20.4% in 2014 to 24.4% in 2024.

The issue is most acute in Northern and Eastern Europe but is increasingly visible in Western and Southern European countries as well. Germany saw a 4.9 percentage point increase in overall overcrowding between 2014 and 2024, while Belgium (4.6 pp), Spain (3.8 pp), and Sweden (4.0 pp) also recorded notable increases. Among renters, the figures are higher: Belgium (+9.0 pp), Spain (+8.0 pp), and Ireland (+7.9 pp) showed some of the steepest rises. In Germany, 18.4% of renters now live in overcrowded homes, compared to 11.5% a decade ago.

The data suggest that Europe’s rental housing crisis is deepening, with insufficient new construction and strong demand continuing to drive prices upward and limit available space. Without policy interventions or significant increases in housing supply, these trends are likely to persist.

neoshare forecasts gradual recovery in German real estate market in 2025

Germany’s real estate market is entering a period of gradual recovery following a period of reduced activity. According to a recent market analysis by neoshare Real Estate, a consultancy specialising in transactions, finance, and valuations, commercial property transactions are expected to reach between €30 and €35 billion in 2025. The company reports signs of stabilisation in capital values and moderate growth in rental income, which are helping to support yields across asset classes.

The analysis identifies two key developments contributing to the recovery. First, the gap between buyers’ and sellers’ price expectations is narrowing. Second, financial pressures such as capital outflows, funding constraints, and portfolio restructuring are leading more owners to consider sales. These dynamics are creating conditions for increased market activity, even as capital availability remains limited and broader geopolitical uncertainties persist.

Despite the challenging environment, neoshare believes that Germany remains an attractive location for real estate investment, particularly for clearly defined projects and properties that meet long-term sustainability criteria. Managing Director José Martinez noted that while signs of recovery are visible, careful selection of assets remains essential.

In the office sector, demand for space has stabilised at lower post-pandemic levels, but a clear divergence has emerged between central and peripheral locations. Core city areas continue to attract strong interest, particularly for modern, flexible, and sustainable offices, while outdated buildings are increasingly struggling to find tenants. The vacancy rate in Germany’s Big 7 cities is expected to rise slightly to 7.2% by the end of 2025 and to 7.5% by 2028. Prime and average office rents are still increasing, though at a slower pace, with prime rents projected to rise by around 2% this year.

In the residential market, supply constraints are likely to continue driving rental growth. New building permits have declined by 17% since 2024, and residential completions are down 13%. At the same time, the number of households in the Big 7 cities has grown by nearly 4%, intensifying demand. This imbalance is expected to result in prime residential rents rising by approximately 3% annually through 2028. With yields stabilising, neoshare sees potential for the residential segment to deliver above-average total returns, supported by consistent rental income. Managing Director Piotr Bienkowski noted that affordability pressures may lead to a reversal of the recent trend toward larger per capita living space in major cities.

The industrial and logistics segment continues to perform well, with rent levels increasing even in the absence of broader economic momentum. New warehouse completions peaked in 2022 and have since declined, keeping vacancy rates below 5%, close to full occupancy. Over the past five years, prime logistics rents have grown at an average annual rate of 7%, and neoshare forecasts an ongoing increase of 3% annually through 2028.

Germany’s retail real estate market remains in a state of structural change. While the number of physical stores continues to decline, retail turnover is projected to reach €677 billion by the end of 2025. Local shopping centres and retail parks remain relatively stable, supported by indexed long-term leases. Food retail properties are still in demand, and despite gradually rising prime yields, investor interest in well-positioned, sustainable retail assets remains steady.

The analysis also highlights growth in alternative real estate sectors such as data centres, life sciences, and hospitality. The hospitality segment, in particular, has recovered strongly since the pandemic, with overnight stays increasing and demand concentrated on budget and sustainable hotel formats. In 2024, international investors accounted for more than half of all hotel transaction volume in Germany, a trend not seen since 2017. Prime yields for top-tier hotels were in the range of 5.25% to 5.50% at the end of last year and are expected to remain stable through 2025.

Overall, neoshare’s outlook points to a cautiously improving environment for real estate investment in Germany, driven by stabilising values, steady rental growth, and emerging interest in both core and alternative asset classes. While risks remain, particularly related to financing and global economic conditions, the market appears to be regaining its footing.

The analysis can be downloaded from the link below:

Art-Invest Real Estate Management appoints Tobias Wilhelm as Managing Director for Southern Germany

Art-Invest Real Estate Management GmbH & Co. KG has announced the appointment of Tobias Wilhelm to its management board. He will be responsible for overseeing the company’s operations in Munich and the southern region of Germany.

Tobias Wilhelm joined Art-Invest Real Estate in 2016 and has led the Munich office since 2019. He became a partner in 2021. During his tenure, he has been closely involved in several key developments, including the Macherei München neighbourhood project, the revitalisation of the ATLAS office tower in the Werksviertel district, and the ongoing Momenturm development.

Wilhelm holds a degree in business administration from Ludwig Maximilian University in Munich, as well as a Master of Science in Real Estate from IRE|BS University of Regensburg and a Master of Science in International Real Estate from Oxford Brookes University. He is also active in professional organisations including ULI Germany and IR|EBS Core.

In their joint statement, CEO Dr. Markus Wiedenmann and COO Dr. Ferdinand Spies noted Wilhelm’s contribution to the company’s activities in Munich, Stuttgart, and Nuremberg, highlighting his nearly ten years of service and leadership within the firm.

Reflecting on his new role, Tobias Wilhelm expressed appreciation for the opportunity and emphasised his continued commitment to working with the team on urban development projects and the company’s future direction.

cmT reports growing demand for warehouse conversions in Poland

Engineering services firm cmT has observed a notable rise in enquiries and contracts related to the conversion and adaptation of existing warehouse buildings. The company, which specialises in large-scale industrial projects, recently completed two such conversions in the Dąbrowa Basin. This trend reflects the ageing warehouse stock in Poland and the need to align older facilities with current user expectations, technical requirements, and regulatory standards.

Founded over two decades ago, cmT employs more than 200 people, 90% of whom are engineers. While approximately 65% of the company’s portfolio last year was comprised of industrial projects, cmT has begun increasing its presence in broader real estate sectors, including logistics and warehousing. Notable clients include MAN, for whom the company expanded a facility in Niepołomice, as well as Viessmann, E.G.O. Polska, and Synthos.

“We have made a strategic decision to diversify our portfolio, aiming to increase the share of real estate projects while keeping large industrial developments as a core component,” said Krzysztof Trembowski, Senior Project Director at cmT. He noted that the warehouse sector, in particular, faces structural and regulatory challenges, where cmT’s engineering expertise and project management capabilities—delivered without the involvement of a general contractor—offer an alternative approach.

The total stock of modern warehouse space in Poland has grown significantly, from just over 6 million square metres in 2009 to nearly 34 million square metres today. However, many facilities built before 2010 remain in use. These older buildings often require upgrades to meet new construction standards introduced with the transition to Eurocodes, which replaced the Polish Standards (PN) in April 2010 and became the sole applicable standard from 2021 onward.

Tomasz Wajdzik, Head of cmT’s Wrocław branch, explained that compliance with updated standards frequently involves reinforcing structural components. “In a recent project, we had to increase the roof’s load-bearing capacity to accommodate a fire protection system that meets the new Eurocode requirements,” he said.

Beyond Silesia, cmT has also completed smaller adaptation projects in Gdańsk and central Poland. The company reports a marked increase in warehouse-related requests, having already responded to or submitted bids for 10 conversion projects in 2025 alone. cmT estimates that around 20% of warehouse buildings in the country were constructed under Polish Standards and may require substantial upgrades during renovation.

As part of its long-term development strategy, cmT plans to expand its involvement in the warehouse segment by building on its established expertise in technical audits, cost and schedule optimisation, and investment supervision. The company aims to strengthen its role as a leading provider of engineering services in Poland’s evolving real estate market.

Corvin Innovation Campus achieves WELL Core Platinum certification

The Corvin Innovation Campus, developed as an extension of the Corvin Promenade, has been awarded the WELL Core Platinum certification. The recognition affirms that the office building meets one of the most demanding international standards for health-focused design and construction.

The WELL certification evaluates buildings based on criteria such as air and water quality, access to natural light, acoustic performance, and the inclusion of features that support physical and mental wellbeing. The Corvin Innovation Campus was developed by Futureal, which has been a leading adopter of the WELL Building Standard in Hungary. Over the past four years, the company has introduced nearly 150,000 square metres of WELL-certified office space to the domestic market.

This latest development joins a series of WELL-certified buildings delivered by Futureal, including Corvin Technology Park (2021), Advance Tower phases on Váci utca, and Budapest ONE near Kelenföld Railway Station. Located at the intersection of Szigony utca and Tömő utca, the Corvin Innovation Campus was designed in accordance with WELL criteria from the outset.

Building features include continuous monitoring of indoor air and water quality, WELL-standard lighting, and the use of calming colours and natural materials throughout interior spaces. A multifunctional room is available for relaxation and informal gatherings. The ground floor lobby incorporates design elements such as a curved wooden ceiling, a copper ribbon sculpture, and a dedicated reading space referred to as the WELL Library.

The building’s internal courtyard contains a kitchen garden, planted with herbs, berry bushes, and fruit trees, offering tenants access to green space within the urban setting. Employees have direct access to the wider Corvin Promenade and its retail, dining, and fitness options. The building is easily accessible via metro and is equipped with cycling facilities, including racks, showers, and lockers. A café is also located on-site.

Covering 16,650 square metres, the nine-story office development has been designed to minimise energy use and has received an A+; A+ energy rating. It includes features such as contactless access and operational technologies. IBM Hungary has established its new headquarters within the building.

Adjacent to the main entrance, a public memorial park has been developed and named after Hungarian actress Irén Psota. The park complements the Corvin Promenade and serves as a new community space. Sculptures previously installed along the Promenade now serve to guide visitors toward this new area, contributing to the revitalisation of the surrounding Szigony utca neighbourhood.

Panattoni completes new production facility for Valmet Automotive in Żary

Panattoni has delivered a new build-to-suit (BTS) manufacturing and logistics facility for Valmet Automotive in Żary, Poland. The project expands the company’s existing site and is designed to support the production of advanced roof and kinematic systems for the automotive industry, responding to increasing demand for components that improve vehicle aerodynamics.

The facility spans 8,800 square metres and has been tailored to Valmet Automotive’s operational requirements. The plant will produce kinematic systems developed at the company’s research centre in Osnabrück, Germany. These systems are relevant for both electric and conventional vehicles, contributing to improved energy efficiency and reduced fuel consumption.

The investment is part of Valmet Automotive’s broader strategy for expanding its operations in Europe. The expansion in Żary is expected to significantly boost production capacity and will lead to the creation of approximately 350 new jobs.

Designed for operational flexibility, the layout of the new building allows for future adjustments in production and logistics functions. The facility is also expected to be certified under the BREEAM system at the Excellent level, reflecting its adherence to environmental and sustainability standards.

Valmet Automotive representatives noted that the project was delivered in close coordination with Panattoni’s BTS division. The development was managed alongside the ongoing operations of the existing plant, ensuring continuity during the expansion phase.

According to Valmet Automotive, the new facility positions the Żary plant for further growth within the company’s European manufacturing network. The investment also reflects a broader trend of industrial development in mid-sized cities, with Żary serving as an example of how regional locations can support advanced manufacturing.

Panattoni stated that its role in the project was to provide modern infrastructure that meets the specific needs of its client while supporting local and regional development goals. The facility is now ready for full operational use.

Peakside to develop new urban logistics park near Gdańsk

Peakside Capital Advisors has announced a new logistics development in the Tricity metropolitan area, marking the company’s expansion into regional markets beyond Warsaw. The project will be located in Przejazdowo, near the Gdańsk Wschód interchange, a strategic connection point between the S7 expressway and the city centre. The development will consist of two warehouse buildings with a total floor area exceeding 20,000 square metres, offering flexible unit sizes starting from 1,700 square metres. Completion is expected in summer 2026.

The new logistics park will target a broad range of tenants, including manufacturing and distribution companies. Designed with a focus on adaptability and sustainability, the buildings will reach a height of 12 metres and will be equipped with modern environmental features. These include heat pumps, electric vehicle charging infrastructure, and rooftops prepared for solar photovoltaic panel installations. The project will meet the requirements of leading sustainability certifications, including BREEAM and LEED, and will comply with EU Taxonomy guidelines.

The location offers direct access to major transport routes and urban infrastructure. Situated less than 9 kilometres from central Gdańsk and approximately 10 kilometres from the port, the site benefits from strong road connectivity and is located just 100 metres from a public transport stop.

According to Stefan Laszczyk, Investment Associate at Peakside, the choice of Tricity reflects the region’s growing importance in Poland’s logistics and trade sectors. He noted that the development aligns with Peakside’s broader strategy to build a nationwide logistics platform.

Olga Wałkiewicz, Leasing Director at Peakside, added that the Przejazdowo project aims to meet increasing demand for high-quality warehouse and office space within urban areas. She highlighted the project’s focus on functionality, energy efficiency, and user convenience as key factors shaping its design.

With this latest initiative, Peakside continues to expand its presence in Poland’s logistics real estate market, responding to shifting demand patterns and increased interest in regional hubs. The new logistics park is scheduled to be delivered and ready for occupancy by mid-2026.

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