Q2 2016 the Polish modern industrial and logistics market achieved a total supply of 10.6 million m² and continues to be in an excellent condition, according to the latest report entitled 'At a Glance'. The large volume of schemes implemented, the all-time low vacancy rate (5.3%) and the emergence of new industrial and logistics locations are proof of this.
Warsaw Zone 1 is the market with the highest vacancy rate (10.3%), while Kraków is placed at the other end of the scale with no space available to let. Regional industrial and logistics markets are growing at a comparable pace. At the end of Q2, the volume of space under construction amounted to nearly 1.29 million m² which indicates a 33% increase compared to the corresponding period last year. There are new schemes under construction, while the ‘land banks’ owned by the largest developers are a sign that there is further growth potential in this sector.
'Furthermore, the so-called “agricultural land act” will work in favour of developers, as it will considerably limit opportunities for acquisition of investment land. In addition to the continuing high demand, it may also result in an increase in rents for industrial and logistics properties', comments Anna Staniszewska, Head of Research & Consultancy, BNP Paribas Real Estate Poland, Central and Eastern Europe.
The Act of 31 March 2016 on suspending the sale of real estate included in the Agricultural Property Stock of the State Treasury entered into effect on 30 April 2016. Its provisions are aimed at, with few exceptions, suspending the sale of state-owned agricultural land and will significantly restrict trade in private land with agricultural designation.
According to BNP Paribas Real Estate Poland experts, forecasts for the Polish industrial and logistics industry are optimistic and there are no major turbulences to be seen on the horizon.
