2025-03-12-莱坊-Warehouse_market_Warsaw_Q4_2024_4页_570kb

Warsaw Warehouse Market Analysis - Q4 2024

Market Overview

• Warsaw and its surrounding areas constitute the largest concentration of warehouse facilities in Poland, accounting for 19.9% of the national warehouse stock.
• As of the end of Q4 2024, warehouse stock reached 6.9 million square meters.

Key Metrics

• Vacancy Rate: 5.5%, remaining one of the lowest in Poland, decreasing by 2.3 percentage points (pp) compared to the same quarter in the previous year.
• New Supply:
  • In 2024, 455,000 square meters of modern warehouse space was delivered, a 35% decrease from the previous year and 80,000 square meters below the five-year average.
  • Notable completions included CTPark Warsaw West, P3 Warsaw I, and CTPark Warsaw South, all in Zone II.
  • Under construction: 205,000 square meters, a decline both quarter-on-quarter and year-on-year, with over half secured by pre-lease agreements.
• Space Taken Up: In 2024, 1.35 million square meters were leased, reflecting a nearly 5% year-on-year decline in take-up.
  • Largest transactions: CTPark Warsaw West (new lease, 63,000 sqm), Logicor Mszczonów (renewal, 58,300 sqm), and MLP Pruszków II (new lease, 50,200 sqm).

Zone Breakdown

• Zone I: Within 12 km of the city center, including locations like Okęcie, Służewiec Przemysłowy, Targówek, and Żerań.
• Zone II: Extending from 12 to 50 km, including towns such as Błonie, Ożarów Mazowiecki, Piaseczno, Nadarzyn, Pruszków, and Sochaczew; accounts for 80% of the region's warehouse resources.

Rent and Economic Context

• Asking Rents: Stable in Q4 2024, ranging from EUR 3.50 to 7.50 per square meter per month; overall stable amid limited new supply.
• Future Developments: Scheduled completion of Hillwood Grodzisk Mazowiecki (51,400 sqm) in mid-2025; only one warehouse project began in Q4 2024, covering 16,500 sqm.
• Regional Economic Indicators: Warsaw's warehouse market benefits from low unemployment (4.0%), competitive salaries, and proximity to high-speed roads like the A2 and S-series highways.

Summary

The Warsaw warehouse market remains strong despite a slow growth pace, with low vacancy and stable rents driven by high demand and targeted logistics developments, primarily in Zone II. Government and infrastructure support enhance the region's attractiveness for warehousing investments.