房地产 -2025年第四季度波兰投资数据 Poland Investment Figures Q4 2025

CBRERESEARCH©2026CBRE,INC.

FIGURES|POLANDREALESTATEINVESTMENT|Q42025

PolandRealEstateInvestmentVolumesQ42025

€1.9B

TTM€4.5B

ThePolishrealestatemarketdemonstratedresiliencein2025,supportedbythenation'srobust

-19%

Y-on-YChangeQ4

-12%

Y-on-YChangeTTM

Nr.ofTransactions

53

economicperformanceandstatusasaprominentglobaleconomy.InQ42025,investmentvolumereachedEUR1.89bn,contributingtoanannualtotalofEUR4.5billion.Whilethisrepresentsa

decreasefrom2024,thestructureoftransactionsdifered.Insteadofahighernumberoflarger

deals,themarketsawthreesubstantialportfoliotransactionsandapproximately150additional

transactions.TheaverageticketsizefortheyearwasEUR29.6m,increasingtoEUR40.8minQ42025.

Polishcapitaldemonstratedsignificantpresencein2025,accountingfor20%ofthetotal

investmentvolume,withanaveragetransactionsizeofEUR14.9million.Thisincreaseis

attributabletosustainedinterestfromdomesticentities,includinghigh-net-worthindividuals,

establishedPolishinvestors,andthepublicsector,whileinternationalinvestoractivityremainedrelativelysubdued.Theoficesectoraccountedforthelargestshareofinvestmentvolume(39%),marginallyexceedingtheindustrialsector(34%).

160TTM

DomesticForeign

Y-on-Y:YearonYear

Originpurchasercapital

TTM:TrailingTwelveMonths

InvestmentVolumesinCEERegion

InvestmentVolumesbySector(Poland)

OFFICE

€859M

TTM:€1.8B

INDUSTRIAL

€573M

TTM:€1.4B

RETAIL

€406M

TTM:€859M

LIVING

€14M

TTM:€324M

HOTELS

€13M

TTM:€65M

8%

Y-on-YChangeTTM

15%

Y-on-YChangeTTM

-46%

Y-on-YChangeTTM

-16%

Y-on-YChangeTTM

-57%

Y-on-YChangeTTM

POLAND

CZECHREPUBLIC

€1.9B

€1.8B

TTM:€4.5B

TTM:€4.4B

HUNGARY

€193M

TTM:€610M

€197M

TTM:€924M

ROMANIA

SEE

€260M

TTM:€868M

©2026Mapbox©OpenStreetMap

SLOVAKIA

€112M

TTM:€535M

FIGURES|POLANDREALESTATEINVESTMENT|Q42025

CBRERESEARCH

©2026CBRE,INC.

InvestmentVolumesAnnualbySector(Poland)

€8,000M

€7,000M

€6,000M

€5,000M

€4,000M

€3,000M

€2,000M

€1,000M

€0M

20152016201720182019202020212022202320242025

LivingOfficeIndustrialRetailHotels

Note:2025annualnumberstill12/31/2025

Notably,theoficesectorwitnessedthelargestsingle-assettransactionin2025:the

acquisitionoftheWolaCenterbuildingbyTrigeaRealEstateFund.Noteworthy,Polishcapitalaccountedfor67%oftheoficesectorvolume.Theindustrialsectorattracted

newcapitalsources,includingFrenchinvestors,andsawsignificanttransactions

characterizedbylongWAULTsaveraging8.1yearsfortransactionsexceedingEUR20m.TheretailsectorrecordedatransactionvolumeofEUR859m,whichincludedthe

purchaseofasignificantretailparksportfoliobySlateandAres,bothaNorthAmericancapital.Retailparksandsupermarketsconstituted57%oftheretailvolume,

demonstratingtheirattractiveness.

Thelivingsectorrepresented5%ofthetotalinvestmentvolume,equivalenttoEUR324m.Themajorityofthisvolumecomprisedforward-purchasedealsconcludedinpreviousquarters.Thesectorisgainingmomentum,anditsliquidityisexpectedtoincrease,witharecordPRStransactionanticipatedin2026.Tenhoteltransactionswererecordedin

2025,totallingEUR64m.Thesector'sperformanceistobecloselymonitoredin2026,giventhepositivemarketsentiment.

Thefavourableeconomicandfinancialenvironment,coupledwithpromising

transactionsplannedforthefuture,suggestsananticipatedincreaseininvestmentvolumein2026onanannualbasis.

Contacts

SeanDoyle

CEECapitalMarkets+48500070744

sean.doyle@

PrzemysławFelicki

HeadofInvestmentProperties+48507088499

przemyslaw.felicki@

KatarzynaGajewska

HeadofResearch+48693330163

katarzyna.gajewska@

©Copyright2026.Allrightsreserved.Thisreporthasbeenpreparedingoodfaith,basedonCBRE’scurrentanecdotalandevidencebasedviewsofthecommercialrealestatemarket.AlthoughCBREbelievesitsviewsreflectmarketconditionsonthedateofthispresentation,theyaresubjecttosignificantuncertaintiesandcontingencies,manyofwhicharebeyondCBRE’scontrol.Inaddition,manyofCBRE’sviewsare

opinionand/orprojectionsbasedonCBRE’ssubjectiveanalysesofcurrentmarketcircumstances.Otherfirmsmayhavediferentopinions,projectionsandanalyses,andactualmarketconditionsinthefuturemaycauseCBRE’scurrentviewstolaterbeincorrect.CBREhasnoobligationtoupdateitsviewshereinifitsopinions,projections,analysesormarketcircumstanceslaterchange.

NothinginthisreportshouldbeconstruedasanindicatorofthefutureperformanceofCBRE’ssecuritiesoroftheperformanceofanyothercompany’ssecurities.Youshouldnotpurchaseorsellsecurities—ofCBRE