仓储市场_Warsaw 2025年第三季度

Q3 2025 The comprehensive guide to the warehouse market in Warsaw Warsaw TheWarsaw region is Poland’s largest and most developed warehouse market.Strategically located along the country’s key transport corridors—including the A2motorway and the S7 and S8 expressways—it offers fast and efficient connections tomajor cities across Poland. The region’s excellent road network is complemented bywell-developed rail infrastructure, intermodal terminals, and access to the country’slargest airport, making Warsaw a critical hub for logistics and e-commerce operations.Moreover, the presence of Poland’s largest consumer market strongly supports thegrowth of last-mile logistics facilities. Q3 2025 7.1m sqmExistingwarehouse stock As of the end of Q3 2025, the Warsaw region offered approximately 7.1 million sq m ofmodern warehouse space, accounting for nearly 20% of total national logistics stock. 530,000sqmSupplyunder construction The market continues to expand, although development momentum slowed noticeablyin 2025. Between January and September 2025, developers delivered over 210,000 sqm of new warehouse space, representing a 32% year-on-year decline. In Q3 alone,completions totalled just 57,000 sq m. 5.2%Vacancy rate At the same time, developer activity has started to rebound, as reflected in thegrowing construction pipeline. By the end of September 2025, around 530,000 sq m ofwarehouse space was under construction - almost 60% more than a year earlier. Nearly150,000 sq m of new projects were launched in Q3 alone. 210,000sq mNew supply(Q1-Q3 2025) Rising developer confidence is also evident in the increasing share of speculativedevelopments. At the end of Q3 2025, only 30% of space under construction was securedby pre-let agreements, one of the lowest ratios among Poland’s major warehousemarkets, highlighting the region’s strong fundamentals and positive long-term outlook. 1.02m sqmTake-up(Q1-Q3 2025) The Warsaw region continues to generate the highest occupier demand in the country,accounting for 23% of total leasing activity in Q1-Q3 2025. Take-up volumes increased significantly, with tenants leasing more than 1 million sqm during the first three quarters of the year, marking a 35% year-on-year growth. In Q3alone, leases totalling nearly 470,000 sq m were signed, with quarterly demand 60%higher than in Q2. Standard lease termsin warehouse buildings New leases dominated the demand structure, accounting for 57% of total take-up.Lease renewals represented 36%, while expansions made up the remaining 7%. 3.80-7.50Asking rentsfor warehouse spaceEUR/sq m/month Sustained, strong occupier demand translated into a further decline in vacancy levels.At the end of Q3 2025, the vacancy rate stood at 5.2%, down by 2.4 pp year-on-year. Asking rents remained stable. For big-box facilities, rates ranged between EUR 3.8 and5.0/sq m/month, while urban and last-mile warehouses commanded higher levels ofEUR 5.0 to 7.5/sq m/month. 10.00-12.50Asking rentsfor office spaceEUR/sq m/month 4.00-7.00Service chargePLN/sq m/month 1-1.5monthRent-free period % share of existingstock destinations in the region(by existing stock) 5.5mPopulation 35,559sqkmVoivodeship area Błonie820,000 sq m 4.4%Unemployment rate ECONOMIC DATA(09.2025, STATISTICS POLAND) Ożarów Mazowiecki460,000 sq m Average monthly salary(transportation and storagesector)PLN8,800(gross) Average monthly salary(enterprise sector)PLN9,980(gross) Pruszków440,000 sq m Teresin440,000 sq m HIGH-SPEED ROADS Mszczonów430,000 sq m 80kmHighwaysA2 500kmExpresswaysS2, S7, S8, S17, S61 RESEARCHDorota Lachowskadorota.lachowska@pl.knightfrank.com CAPITAL MARKETSKrzysztof Cipiurkrzysztof.cipiur@pl.knightfrank.com CONTACTS IN POLAND:+48 22 596 50 50www.KnightFrank.com.pl INDUSTRIAL AGENCYPrzemysław Piętakprzemyslaw.pietak@pl.knightfrank.com VALUATION & ADVISORYMałgorzata Krzystekmalgorzata.krzystek@pl.knightfrank.com As one of the largest and most experienced research teams operating across Polish commercial real estate markets, Knight FrankPoland provides strategic advice, forecasting and consultancy services to a wide range of commercial clients including developers,investment funds, financial and corporate institutions as well as private individuals. We offer: strategic consulting, independent forecasts and analysis adapted to clients’ specific requirements,market reports and analysis available to the public,tailored presentations and market reports for clients. Reports are produced on a quarterly basis and cover all sectors of commercial market (office, retail, industrial, hotel) in major Polishcities and regions (Warsaw, Kraków, Łódź, Poznań, Silesia, Tricity, Wrocław, Lublin, Szczecin) and PRS sector in Poland. Long-termpresence in major local markets has allowed our research team to build in-depth expertise of socio-economic factors affecting realestate market in Poland. Knight Frank ResearchReports are available at © Knight Frank Sp. z o.o. 2025 T