The international advisory firm Cushman & Wakefield has summarized the situation in Poland’s retail real estate sector. Similar to the first quarter, the second quarter recorded the highest amount of retail space under construction since 2019. Additionally, six brands opened their first physical stores in Poland during Q2, confirming the country’s strong appeal to international retail chains. Shopping center owners also had reasons to be pleased as this market segment showed growth in both foot traffic and sales in April and May, following slight declines earlier in the year.
SUPPLY: Nearly 90,000 sqm of New Retail Space
The total modern retail space in Poland currently approaches 17 million sqm. In Q2 2025, approximately 90,000 sqm of new retail space (GLA) was delivered, slightly less than the 125,000 sqm added during the same period last year. Nevertheless, the scale of new developments remains comparable to 2022 and 2023. It is also worth noting that this time, the new supply was not limited solely to retail parks, unlike previous quarters, explains Ewelina Staruch, Senior Analyst at Cushman & Wakefield.
According to Cushman & Wakefield, May saw the opening of Krakow’s first outlet center—Designer Outlet—with over 19,000 sqm, making it the largest delivery in Q2. Additionally, the Łabędzka retail park in Gliwice opened, developed as a redevelopment of the former Tesco shopping center, providing about 15,000 sqm of space. Leroy Merlin also opened a store in Szczawno-Zdrój at Pasaż Łączyńskiego, offering approximately 10,000 sqm. Other openings included retail parks below 8,000 sqm.
Expansions of existing retail facilities contributed around 22,000 sqm of GLA to the market in Q2, primarily retail parks. It is also notable that the Glinki shopping center in Bydgoszcz officially closed and will be transformed into a retail park named Nowe Glinki.
Similar to Q1, Q2 recorded the highest volume of retail space under construction since 2019—593,000 sqm of GLA. Retail parks remain the dominant format, accounting for 80% of space under construction, followed by DIY brand retail warehouses (12%) and shopping centers (8%). The most active developers for projects over 5,000 sqm include Saller, PKB Inwest Budowa, and P.A. Nova. A slowdown in new supply is expected only by 2027, adds Staruch.
DEMAND: New Brands Eyeing the Polish Market
In Q2, the Polish retail market saw six new entrants. Czech contact lens brand Alensa, Lithuanian luxury alcohol chain Bottlery, Polish circular fashion brand Dreslow, and Dubai-based cosmetics brand Markovo launched their first physical stores. Motorola/Lenovo opened a showroom for electronics products, and Polish food operator Polski Stół also debuted.
The second quarter demonstrated that Poland’s attractiveness to retail chains remains strong, with brands previously available only online now opening physical locations in malls and retail parks. New market entries are expected, with ongoing negotiations for leasing additional retail spaces, comments Michał Masztakowski, Head of Retail Poland at Cushman & Wakefield.
RETAIL SALES: Highest Growth Since May 2022
In April and May, retail sales maintained positive growth, covering all purchase categories except “Other.”
According to Statistics Poland (GUS), retail sales in constant prices rose by 7.6% year-on-year in April, marking the best performance since May 2022. After declines in February and March, the growth across nearly all categories (excluding “Other”) signals a positive outlook for tenants’ sales dynamics in shopping centers. May’s retail sales also showed positive growth but slowed slightly to 4.4% year-on-year. Notably, in a European consumer confidence index by Eurostat, Poland was the only EU member state to record a positive value. By the turn of 2024/2025, Poland stood out among surveyed countries as the only one with nearly fully restored consumer optimism, explains Ewa Derlatka-Chilewicz, Head of Research Poland at Cushman & Wakefield.
VISITORS AND SALES IN Q2 2025: Both Indicators Positive
Average shopping center footfall in April rebounded from February and March declines, reaching approximately 420,000 visitors per center—a 2% increase year-on-year. In May, footfall exceeded 405,000 visitors, a slight improvement (0.3%) compared to May 2024, comments Derlatka-Chilewicz.
Large and very large shopping centers (over 40,000 sqm) recorded stable footfall growth in both months, while medium (20,000–40,000 sqm) and small centers (under 20,000 sqm) experienced growth in April but slight declines in May (around -1%).
Tenant sales in shopping centers and retail parks exceeded PLN 1,100 net per sqm in Q2. Sales increased nominally by 6% in April and 3% in May. Total sales from January to May 2025 surpassed PLN 121.2 billion—1% higher than the previous year, adds Derlatka-Chilewicz.
Among retail categories with the highest sales growth in April-May 2025 were: entertainment (>30% year-on-year), restaurants (>10%), health and beauty (>8%), and services (>8%). Fashion stores, still the largest category in shopping center tenant mix, after a strong April (>4% growth), saw over a 3% decline in May.
RENT LEVELS: Retail Parks See Rises
Analysis of rent levels in prime retail properties shows a steady year-on-year increase, driven by inflation-indexed adjustments early in the year and strong tenant demand for flagship locations.
Prime retail parks recorded the strongest rent increases year-on-year, with quarterly growth as well. Shopping centers and high streets saw year-on-year rises around 12–13% for prime locations, while rents remained stable compared to Q1, summarizes Michał Masztakowski.
Source: https://ceo.com.pl/rynek-nieruchomosci-handlowych-w-polsce-podsumowanie-ii-kwartalu-2025
