The geopolitical challenge

How would you assess the current state of the Polish warehousing market? Michał Chodecki, head of industrial, Savills: The warehouse market in Poland is currently at a stage of stabilisation, which began in 2024. This is a positive sign when you consider that economic growth is at 2.9 pct and the macroeconomic indicators are picking up – including inflation falling to 3.6 pct, which is resulting in an improvement in the sector. Vacancy has stabilised at 7.2 pct and monthly rents have stabilised at EUR 3.5 to EUR 6.75 per sqm. Continuing strong demand has played a major role, having risen 4 pct y-o-y, especially in Warsaw, Upper Silesia and Central Poland. Developers, however, remain cautious, limiting their speculative projects and concentrating on developments with secure rents. Despite the lower supply, the high level of pre-leases at 53 pct reveals a steady interest in long-term leases. As a key logistics hub, Poland continues to attract investors, especially when we conside