2023-07-06-莱坊-Warehouse_market_Warsaw_Q1_2023_3页_640kb

Warsaw Warehouse Market Summary - Q1 2023

The Warsaw and surrounding region continues to dominate Poland's warehouse market, holding 6 million square meters of stock, which accounts for 20% of the national total. This stock is concentrated in two main zones within the Warsaw agglomeration:

• Zone I: Encompasses areas within 12 km of Warsaw's center, such as Okęcie, Służewiec Przemysłowy, and includes two intermodal terminals.
• Zone II: Spans 12-50 km from the center, covering towns like Błonie, Ożarów Mazowiecki, and Pruszków; it holds about 80% of the total stock and features large logistics parks for future expansion.

New Supply and Developments

In Q1 2023, new warehouse supply increased by a record 365,000 square meters, with projects like CTPark Warsaw South, CTPark Warsaw North, and Panattoni Park Warsaw South IV. Construction inventory fell to 390,000 square meters, the lowest in two years, with CTPark Warsaw West in Wiskitki as the largest ongoing project.

Demand and Leasing Activity

Leasing activity slowed, with total take-up at 200,000 square meters—the lowest quarterly figure in nearly four years. Despite this, Warsaw warehouse space ranked first among nine major European markets for lease commitments. The largest lease agreement was for 26,000 square meters.

Vacancy Rate and Rents

The vacancy rate rose to 6.5%, up from the previous year due to high new supply and renegotiated leases. Asking rents for warehouse space further increased, ranging from 3.50 to 7.00 EUR/sq m/month, reflecting higher financing and construction costs.

Economic Context

Key data includes a growing population, low unemployment, and significant infrastructure support, with high-speed roads like A2, S7, and S8 facilitating logistics. Standard lease terms, service charges, and other details are consistent with the broader Polish economy trends.