Poland sees addition of 103,000 sqm of retail space in Q3, vacancy rate remains steady

According to data from Colliers, Poland welcomed 103,000 square meters of new retail space in the third quarter of 2024, with an additional 337,600 sqm set to come online in the near future. The vacancy rate across the eight largest urban agglomerations remains stable at 3.3%, indicating robust demand and a healthy market environment.

In the July to September period, seven new retail facilities were opened, alongside three expansions of existing properties, collectively adding 103,000 sqm of modern retail space. Commercial parks continued to dominate among the newly launched spaces, highlighting a trend in consumer preferences.

The Polish retail landscape was further enriched with the introduction of new brands in various shopping centers. In Westfield Arkadia, located in Warsaw, fashion retailers Arket and Uniqlo launched permanent stores, while Westfield Mokotów welcomed the first outlets of Dreame and TAG Heuer. Additionally, Tissot opened a store in the Golden Terraces, and GAP made its return to Poland with a new location at Designer Outlet Warsaw. A luxury Bvlgari boutique was also opened in the capital, offering high-end accessories and jewelry.

However, not all brands are thriving in the Polish market. The Kontigo chain and the Eastend clothing brand have opted to exit the country, highlighting the shifting consumer preferences. In response to these changes, Media Markt has introduced new stores in its Xpres format.

The vacancy rates in major Polish urban centers reflect varied conditions within local retail markets. Notably, the agglomeration in the city recorded one of the lowest vacancy rates in the country at 1.3%, a decrease of 0.5 percentage points from the previous quarter. The Tri-City area and the Upper Silesian-Zagłębie Metropolis also saw decreases of 0.8 and 0.2 percentage points, achieving vacancy rates of 3.5% and 3.7%, respectively. Warsaw’s vacancy rate dropped to 3.0%, a significant decline of 1 percentage point compared to the previous quarter. In contrast, Krakow, Poznań, and Wrocław experienced increases in vacancy rates, rising by 0.4 percentage points to 2.1%, 0.1 percentage points to 4.5%, and 1.1 percentage points to 5.4%, respectively.

As the retail landscape in Poland continues to evolve, these trends highlight the dynamic nature of consumer preferences and the ongoing adjustments within the market.

Source: Colliers and ISBnews