Poland has been building warehouse facilities with a total storage space of 2.5 million square metres, a record-high result, real estate advisor CBRE said in a Wednesday report.
The total warehouse space available in Poland now totals 21.3 million square metres (sqm) after an addition of 766,000 sqm in Q1 2021, CBRE said.
“The pandemic has heated up the warehousing market, and its pace of development is still increasing,” CBRE’s Beata Hryniewska was quoted in the company’s statement.
Hryniewska also expects 2021 will be a record year for warehouse space growth.
The vacancy rate is now as low as 6.5 percent, down 0.6 percentage points year on year, CBRE said.
The highest ever total of 5.2 million sqm of warehouse space was leased in Poland in 2020, as a result of significant changes in consumer behaviour in an exceptional, pandemic year, according to industrial agency Axi Immo.
In Q4 2020, the volume of warehouse investment transactions reached some EUR 700 million, thus taking the annual total to a record EUR 2.6 billion, up 65 percent on 2019 and 41 percent more than the previous record set in 2018 (EUR 1.8 billion).
According to the World Bank’s data for 2018, Poland had a Logistics Performance Index of 3.54, which placed the country in a stable 28th place. This means that Poland had outrun countries like Ireland, Qatar, Hungary, Slovenia, Estonia, Greece, or Bulgaria.
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