After several years of lower activity, the commercial real estate investment market is entering a new cycle. The value of investments in Poland has grown from €2 billion to over €5 billion annually, according to CBRE’s Poland Real Estate Market Outlook 2025 report. This amount is only slightly lower than the total investments in all other Central and Eastern European (CEE) countries combined. Investment values are expected to continue rising in 2025. Among investors operating in the region, logistics properties remain the top choice, attracting 37 percent of investments, while residential real estate follows, with over a quarter of investors planning to allocate capital there.
“In 2025, investment plans in the CEE markets are primarily focused on the logistics sector, with 37 percent of investors planning to allocate capital there. Additionally, investors favour less mature asset classes locally, such as the residential sector, which includes institutional rental housing and student accommodation, attracting 26 percent of investors. Interest in retail and hospitality is also growing. While demand for office space has slightly declined year over year, attractive opportunities are still being sought,” says Przemysław Felicki, Director of Capital Markets at CBRE.
In 2025, 13 percent of investors plan to allocate capital to the retail sector, while one in ten will favour office investments. Interest in the hotel industry has increased by 3 percentage points compared to the previous year, with 8 percent of investors planning to invest in it in the coming months.
Capital is Flowing into Poland
Poland, particularly Warsaw, is considered one of the best locations for European investors seeking commercial real estate assets. In 2024, over €5 billion was invested in the country, marking a 1.5-fold increase year over year. This amount is only slightly lower than the €5.4 billion invested across the rest of the CEE region combined.
“After two to three years of declines, reduced activity, and increased caution among investors, we are now entering a new cycle. The trend is positive—the real estate market is beginning to rebound. We expect 2025 to be even better than the previous year, with more transactions and potentially rising prices. Foreign capital is showing a growing interest in Poland. From a macroeconomic perspective, the country offers strong growth and promising development prospects. We have solid economic fundamentals, a strong talent pool, and a highly skilled workforce. While there are challenges, particularly related to geopolitics, there are no signs of investor anxiety,” says Przemysław Felicki.
