Polish investors gain strength in the commercial real estate market

The performance in the first half of 2025 marks a continuation of the strong rebound in investment activity that began in 2024. A clear signal of the market’s strength is robust investor activity across all sectors: from logistics and retail to offices and the PRS. This shows that the appetite for Polish assets is driven not by a temporary increase in demand for a single sector, but by confidence in the potential of the entire real estate market in Poland. Although the investment train has been running at full steam since last year, a significant proportion of large-scale transactions is unlikely to finalise before the end of December, with their impact expected to carry over into 2026’s investment volumes. As a result, we anticipate that 2025 will close with approximately EUR 4 billion worth of deals,” 

says Paweł Partyka, Head of Capital Markets Poland, Cushman & Wakefield.

Against the backdrop of moderate growth across the European Union, Poland remains at the forefront, reinforcing positive investor sentiment. The robust economy directly impacts the capital market in the real estate sector, boosting confidence in our market’s stability and potential. In this environment, investors are more willing to finalise acquisitions and divestments, while the growing activity in recent quarters suggests that this trend will continue,” 

adds Krzysztof Misiak, Head of Cushman & Wakefield Poland.

Importantly, approximately 40% of office investment came from domestic investors who are increasingly targeting high-quality assets and competing with international players both in major cities and regional markets. This is a very positive signal, showing that Polish capital is emerging as a permanent and significant part of the market,” 

comments Marcin Kocerba, Partner, Capital Markets Poland, Cushman & Wakefield. 

The stellar performance in the first half of the year is a testament to the growing confidence in the potential of the Polish market and the increasing diversification of investment strategies, with regional markets playing an ever more important role alongside Warsaw. The sale of the VIBE office building in Warsaw closed in August and ongoing negotiations suggest that investment volumes in the second half of the year could rise even further,” 

adds Marcin Kocerba.

After a very successful year for the logistics sector in 2024, 2025 has brought a notable increase in the value of individual transactions, sending a very positive signal to the market. The nature of transactions has also evolved. Last year, investors focused primarily on properties with rents below market levels, offering value-add potential. Today, although strategies targeting upside potential remain relevant, we are observing a clearly renewed interest in assets with long-term leases and core transactions in prime locations,” 

adds Paweł Partyka.

The first half of the year saw investor activity reach levels not seen since 2019, with Poland standing out thanks to a significant increase in transaction volumes. This highlights the growing appeal and maturity of Poland’s hotel market,” 

comments Marcin Kocerba.