Retail market in good health as development activity shows no sign abating

Poland’s total retail stock currently stands at nearly 17 million sqm. In the second quarter of 2025, approximately 90,000 sqm of GLA was delivered to the market. While this volume is slightly below the 125,000 sqm of GLA recorded in the same period in 2024, it remains broadly in line with the 2022-2023 figures. It is also worth noting that, unlike in previous quarters, the new supply included more than just retail parks,” 

says Ewelina Staruch, Senior Analyst, Cushman & Wakefield.

Following the first quarter, the second quarter also recorded the strongest development pipeline since 2019, standing at 593,000 sqm of GLA. Construction activity continues to focus on retail parks, which account for 80% of space under development, followed by DIY retail warehouses and shopping centres at 12% and 8% respectively. The most active developers of projects over 5,000 sqm include Saller, PKB Inwest Budowa, and P.A. Nova. New supply growth is not expected to slow until 2027,” 

adds Ewelina Staruch.

The second quarter has demonstrated that the Polish market continues to hold strong appeal for retailers and that brands previously present only in the online channel in Poland are now expanding their brick-and-mortar footprint across shopping centres and retail parks. Further market entries are expected amid ongoing lease negotiations for additional retail premises,” 

comments Michał Masztakowski, Head of Retail Poland, Cushman & Wakefield.

According to data from Statistics Poland (GUS), retail sales in April grew by 7.6% year-on-year in constant prices, representing the strongest result since May 2022. Following declines in February and March, the renewed momentum in April across all retail categories – except ‘Other’ – bodes well for the shopping centre turnover growth. In May 2025, retail sales weakened but maintained positive growth, rising 4.4% year-on-year. It is also worth noting that Eurostat’s consumer confidence indicator shows that Poland is the only EU country in positive territory. In late 2024 and early 2025, Poland stood out among surveyed countries as the only nation to have seen consumer optimism fully recover,” 

explains Ewa Derlatka-Chilewicz, Head of Research Poland, Cushman & Wakefield.

The average shopping centre footfall rebounded in April 2025 following declines in February and March. It climbed to approximately 420,000 customers per retail scheme – up 2% year-on-year – and exceeded 405,000 in May 2025, a marginal increase of 0.3% from the same time in 2024,” 

comments Ewa Derlatka-Chilewicz.

In the second quarter, shopping centre and retail park tenants reported net turnover exceeding PLN 1,100 per sqm. Nominal turnover rose by 6% in April and 3% in May. Total turnover for January-May 2025 surpassed PLN 121.2 billion, up 1% year-on-year,” 

adds Ewa Derlatka-Chilewicz.

The strongest annual rental growth was recorded for prime retail parks, which also saw rents rise quarter-on-quarter. Prime shopping centres and high streets posted an average year-on-year growth of 12-13%, with rental rates remaining flat compared to the first quarter,” 

concludes Michał Masztakowski, Head of Retail Poland, Cushman & Wakefield.