Cushman & Wakefield experts in Poland have summarised the situation in the country’s retail property market following the second quarter of 2026. The period from April to June was marked by continued high development activity, with approximately 150,000 sq m of modern retail space delivered. This was the strongest second-quarter result since 2019.
As much as 650,000 sq m remains under construction, with retail parks accounting for 90% of the development pipeline. Meanwhile, following a temporary slowdown in April, both shopping centre footfall and tenant sales improved, confirming the resilience of consumer spending and the sector’s stable condition.
Highest Level of New Supply in Six Years
Developers completed approximately 150,000 sq m of modern retail space in the second quarter of 2026, compared with around 90,000 sq m a year earlier. A total of 12 new properties were delivered, all of them retail parks.
The largest projects included BIG Dzierżoniów, offering approximately 16,800 sq m of gross leasable area, M Park Zawiercie with 15,500 sq m, and Eurobud Park Pruszcz with 10,000 sq m.
Another significant event was the completion of the redevelopment of the Glinki shopping centre and the opening of Comfy Park Bydgoszcz, which added approximately 16,000 sq m of retail space to the market.
“The Polish property market is maturing, but it is not slowing down. In addition to new retail parks, extensions of existing properties accounted for a significant share of new supply, delivering 35,000 sq m. Poland’s total stock of modern retail space has now reached approximately 17.5 million sq m of GLA. This shows that investors are increasingly focusing not only on expanding the market but also on improving the quality and attractiveness of existing projects,” said Ewelina Staruch, Senior Analyst at Cushman & Wakefield.
At the end of June, approximately 650,000 sq m of modern retail space was under construction. Saller, Acteeum, Redkom and Genesis Property were among the most active developers, while retail parks accounted for around 90% of all projects underway.
Compared with previous quarters, a relatively high volume of new space was completed in urban areas with populations of more than 400,000. These markets accounted for approximately 36,000 sq m of new supply.
Six International Brands Make Their Polish Debuts
Six international brands opened their first brick-and-mortar stores in Poland during the second quarter: The Leather Trading Co., Ksisters, Søstrene Grene, Trussardi, PadelCity and IWC Schaffhausen.
Over the past decade, the largest number of international brands entering Poland have originated from Italy, the United States and Germany, confirming the continued attractiveness of the Polish market to global retail chains. The inflow of French brands has also remained stable, with companies from France consistently expanding their presence in Poland.
“The geographical structure of brands entering the Polish market has changed noticeably since the COVID-19 pandemic. Scandinavian brands have become increasingly active, while brands from Ukraine have also expanded their presence since 2022. Asian companies, particularly those from China, South Korea, Japan and Malaysia, are also playing a growing role, broadening the range of international brands operating in Poland,” said Ewa Derlatka-Chilewicz, Head of Retail Research at Cushman & Wakefield.
Consumer Spending Remains Resilient Despite Slower Growth
The macroeconomic environment continues to support the retail sector. The Polish economy expanded by 3.5% year on year in the first quarter, while inflation stood at 2.5% in June, remaining in line with the National Bank of Poland’s inflation target.
The average gross salary in the enterprise sector increased to PLN 9,173, supporting households’ real purchasing power. Retail sales continued to grow, although at a slower rate than at the beginning of the year.
The strongest-performing categories included those particularly important to shopping centres, such as pharmaceuticals and cosmetics, home furnishings and fashion.
Footfall and Sales Return to Growth After a Weak April
The first half of the year ended with shopping centre footfall up by 0.6% year on year. The overall result was significantly affected by weaker performance in April. Customer traffic began to recover in May, while June brought a 5.1% increase in footfall.
Tenant sales increased by 3% between January and May, slightly outpacing inflation. Following a 6.6% year-on-year decline in April, sales quickly returned to positive growth.
“The second quarter demonstrated that the weakness recorded in April was temporary. Both footfall and tenant sales improved from month to month, with June bringing a clear rebound. Consumers remain cautious, but a stable labour market and rising wages continue to support their willingness to spend, particularly in categories such as fashion, home furnishings, health and beauty,” said Ewa Derlatka-Chilewicz, Head of Retail Research at Cushman & Wakefield.
Prime Rents Remain Stable
The second quarter brought no changes to rental rates in the best-performing retail properties.
In flagship shopping centres, rents for units of approximately 100 sq m remained at EUR 180 per sq m per month. Prime rents in leading retail parks averaged EUR 19.50 per sq m per month, while rents on the most prestigious high streets stood at approximately EUR 93 per sq m per month.
“Following the dynamic increases recorded in 2024, the market has entered a period of stabilisation. Rents in the best locations remain high, reflecting continued demand for space in properties with the strongest retail fundamentals. Under current market conditions, the quality of the project, an appropriate tenant mix and owners’ ability to build long-term asset value are becoming more important than further rental growth,” concluded Michał Masztakowski, Head of Retail Agency at Cushman & Wakefield.
