The year 2024 saw the highest level of developer activity in the retail market in nine years. According to the CBRE report “Poland Real Estate Market Outlook 2025,” a total of 73 new retail properties were delivered, and 23 existing ones were expanded. Altogether, 610,200 sqm of retail space was added over the year. The majority of new investments were retail parks, as more tenants recognize their potential, leading to an increasingly diverse offering. Competition is intensifying in the fashion, restaurant, and café sectors, while the greatest growth potential lies in services, as well as the health and beauty industry.
By the end of 2024, Poland’s total modern retail space reached 14.96 million sqm. Throughout the year, investment activity remained exceptionally strong, delivering a total of 610,200 sqm across 73 new properties and 23 expansions—marking the highest investment level since 2015.
“A total of 96 retail investment projects were completed last year, the majority of which were retail parks. Specifically, 71 new retail parks were delivered, while 21 were expanded. The remaining projects included three shopping centers and one outlet center. Retail parks are becoming the most popular format among investors, partly due to their short construction time,” says Mariusz Majkowski, Head of Retail Leasing at CBRE.
Shopping in Smaller Towns
Nearly half of the retail parks built in 2024 are located outside major metropolitan areas, in smaller towns with populations under 100,000. This expansion allows residents in less urbanized areas to shop more conveniently and frequently. Additionally, retail parks are increasingly being developed near competing facilities and in areas that are already relatively saturated with retail space. As a result, property owners are focusing more on carefully selecting and diversifying tenants, as well as relying on experienced property management teams to stand out from the competition.
“More and more companies are recognizing the potential of retail parks, leading to a broader and more diverse tenant mix. The most intense competition is among tenants from the fashion, restaurant, and café sectors. As a result, we saw a high number of both openings and closures in these categories last year. However, the strongest growth potential lies in services and businesses related to health and beauty. For retail property owners, closely monitoring consumer behavior and adjusting tenant strategies accordingly is crucial,” adds Majkowski.
Fewer Vacant Retail Spaces
Major cities such as Warsaw, Tricity, and Łódź recorded a significant decrease in vacant retail space in 2024 compared to the previous year. The average vacancy rate in Poland’s metropolitan areas currently stands at 3.4 percent, indicating a growing demand for retail spaces.
