The Polish warehouse market is gaining momentum. The vacancy rate fell to 6.6% at the end of June, down 1.6 percentage points year on year. This is the lowest level in three years. At the same time, growing tenant activity and the predominance of new leases point to a further market recovery. “This is one of the most important signs that the market is returning to a path of dynamic growth,” comments Marek Dobrzycki, Partner at Panattoni.
The first half of 2026 saw a marked increase in tenant activity on the Polish warehouse market. According to CBRE data, total gross take-up amounted to 3.51 million sqm, representing a 21% increase compared with the first half of 2025. The second quarter was particularly strong, with 1.93 million sqm of space let. Panattoni let 538,000 sqm during this period.
Significantly, the increase in letting volume was accompanied by a favourable demand structure. New leases accounted for 52% of the total transaction volume, renewals for 40%, and expansions for 8%. The highest tenant activity was recorded in the Silesian, Lower Silesian and Łódź Voivodeships.
“Data from the first half of the year show that we are seeing not only an increase in transaction volume, but above all genuine demand for new space. Net demand is growing significantly faster than gross demand, and the majority of agreements concluded are new contracts. This means that Poland not only fosters business development but also attracts new customers,” says Marek Dobrzycki.
The clearest sign of an improvement in the market remains the fall in the vacancy rate. At the end of June, it stood at 6.6%– 1.6 percentage points lower than a year earlier and 0.7 percentage points lower than at the end of the first quarter. This is the lowest level of available space in three years. The improvement was particularly marked in three regions: in the Pomeranian Voivodeship, the vacancy rate fell from 8.2% to 6.3%; in the Lower Silesian Voivodeship, from 8.0% to 6.2%; and in the Greater Poland Voivodeship, from 7.9% to 6.1%.
Against the backdrop of the market as a whole, the situation for Panattoni’s developments looks even better. The vacancy rate in the facilities completed by the developer currently stands at 3.52%.
“The fall in vacancy rates, coupled with increased tenant activity, is one of the most important signals we are seeing in the market today. Available space is being taken up at an ever-faster rate, and companies are becoming increasingly determined to make decisions regarding the expansion of their operations. These are sound foundations on which to build stable growth,” comments Marek Dobrzycki.
He adds, “The market remains fairly selective and cautious, whilst Panattoni currently has over 628,000 sqm of new space under construction, and, together with developments set to be launched in the near future, nearly one million sqm.”
