Retail supply in Poland down 25% on five-year average
Published at: 2018-01-10 11:20 | Author: CIJEurope.com
A total of 381,000 sqm of new supply were added to the Polish retail market in 2017. The space was delivered across 19 new schemes, including nine shopping centers (279,000 sqm), seven standalone retail warehouses (81,000 sqm) and three small-scale retail parks (21,000 sqm), according to the latest report from Cresa Poland. Completions also included nine extensions of existing retail schemes, totaling 45,000 sqm of GLA, which accounted for almost 11 percent of last year’s total supply. Of that total, nearly 36,600 sqm was delivered through refurbishments and extensions of six shopping centers. The new supply volume for 2017 was down by 9 percent on last year’s total and by 25 percent compared with the annual average for the previous five years. Growth in floorspace slowed to 3 percent over the last two years compared to the annual average of approximately 6 percent in the previous five years, but retail sales in that period rose approximately 6 percent annually, representing a marked acceleration from the five-year average of around 3 percent, according to Cresa Poland.
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