Poland’s retail property market continues to follow an upward trend, supported by stable macroeconomic fundamentals. Developer and tenant activity remains high, according to data from CBRE. In the first quarter of 2026, the retail sector attracted almost one-third of the total investment volume recorded in commercial real estate. Market growth is being supported by strong consumer willingness to spend. According to Oxford Economics forecasts, consumer spending in Poland is expected to rise by 3.3% year on year in 2026, placing the country second in Europe, behind Hungary.
In the first quarter of 2026 alone, nearly EUR 320 million was invested in the retail sector, representing 31% of the total volume allocated to commercial real estate. Developers’ plans for the coming months remain ambitious. In total, more than 1 million sqm of new retail space may be delivered in Poland this year and next.
“Rising consumer spending and ambitious expansion plans among retail tenants are translating into strong developer activity. According to current plans, around 650,000 sqm of new retail space is expected to enter the market in 2026 alone. We are also seeing an increasingly clear shift towards quality. This trend is already very visible in shopping centres and is gradually strengthening in retail parks as well,” said Anna Wysocka, Head of Retail at CBRE.
Retail parks continue to expand, while shopping centres focus on quality
Retail parks remain the dominant investment format and account for 92% of the retail space currently under construction. Importantly, development is not limited only to small convenience formats. Larger projects are also being delivered, with 13 schemes exceeding 15,000 sqm of space.
Despite the strong concentration of new investment around retail parks, shopping centres continue to maintain a solid market position. Their owners are actively managing assets, particularly through repositioning projects, ESG initiatives and adjustments to the tenant mix in response to changing consumer and operator needs. Shopping centre owners are developing their offer mainly in the food and beverage, fashion and entertainment segments.
Consumption keeps the market running at high speed
With inflation close to the target level — 3.2% year on year in April — and consumer spending forecast by Oxford Economics to grow by 3.3% in 2026, Poland remains one of the fastest-growing consumer markets in Europe. Only Hungary is expected to record stronger growth, at 3.4%. The Czech Republic and Spain rank third, both at 2.9%, while Norway completes the top five.
“Poland remains one of Europe’s strongest consumer growth markets today. In addition, thanks to favourable macroeconomic conditions, the country is still perceived by new brands as an attractive entry market, particularly in the fashion, sports and food and beverage segments. One of the latest debuts is clothing brand Lululemon, which opened its first store in Poland at Westfield Arkadia in Warsaw,” added Anna Wysocka of CBRE.
