2026 Poland Real Estate Market Outlook_ENG

2026 Real Estate Market Outlook U|.S.

Intelligent Investment

Introductory Note by

Executive Summary

Daniel Bienias ManagingDirectorCEE

The Polish economy continues to demonstrate resilience, with positive GDP growth anticipated through 2026. This optimistic economic outlook is supported by robust investment interest, as reflected in recent surveys that reveal significant investor confidence and a strong appetite for Polish assets. The investment arena in Poland is expected to experience a gradual upswing, facilitated by improving access to financingand shifting the focus towards incomegenerationand requiringa morestrategic, asset-specific approach. The residential sector is gaining prominence across Europe, and the Polish market, characterized by supply shortages and rising rents, is set to replicate this trend.Within the office, retail and industrial sectors, we observe a market characterized by stability and growth. Demand remains consistently high, while vacancy rates are trending downwar.dFsurthermore, these markets are diversifying and maturing, offering a range of investment and development opportunities. We trust that this report will serve as an invaluable resource for investors, developers, tenants, and anyone seeking to understand and capitalize on the future opportunities within the Polish property market. Welcome to CBRE’s PolandReal Estate Market Outlook 2026

— In 2026, Poland is set to remain Europe’s fastest -growing economy, powered by strong investment, resilient consumption and a rebound in exports, all underpinned by stable inflation and low unemployment. Investment market activity will accelerate, supported by improving sentiment, expanding opportunities, and rising interest from both international and increasinglye activ domestic investors. — The office market will see strengthening demand as macro conditions improve and tenant confidence rises. Limited availaibnility prime locations is likely to push rents upward, while developers focus on selective new supply, flexible workspace solutions and revitalizing older buildings. — Growing purchasing power and upbeat consumer sentiment will continue to stimutlahteeretailmarket — furthersupply growth willespeciallybe seenin retail parks — while shoppingcentres undergo strategic repositioning.We expect a focus on enhanced customer experience, stronger tenant mixes and increasing activity from global brands.

— For industrial and logistics, 2026 will mark a shift from scale to quality. With supply stabilizing, Poland’s role in global supply chains will continue to expand, driven by diversification, attractive locations, automation and advanced technologies.

— The living sector will remain on a growth trajectory, with ongoing development of PRS-l,ivcoing, and student housing portfolio.s Moderate demand for units for sale will support the sector, while demographic shifts and evolving societal needs will shape f uture strategies. — Poland’s hotel market is poised for further dynamic growth, supported by strong demand and improving profitability amid constrained supply. Key themes will include diversified offerings, alignment with tourism trends — from business travel to “coolcation”— the rising influence of social media and AI and adaptation to demographic change.

© 2026 CBRE, INC.

3 CBRE RESEARCH