Polish real estate market posts record apartment sales and mixed office demand in H1 2026

In the second quarter of 2026, 17 publicly listed developers in Poland sold about 6,400 apartments, a 22% increase year‑on‑year and 5% higher than the first quarter, though 6.8% lower than the fourth quarter of 2025. Over the first half of the year the sector sold roughly 12,500 units, 21% more than a year earlier. The "big six" developers accounted for 77% of total sales, with Dom Development achieving its eighth consecutive thousand‑unit quarter and targeting 4,450 sales this year and over 5,000 annually in the longer term. Atal showed a strong rebound, while Murapol’s volume fell. Analysts warned that future growth may moderate due to a higher sales base and uncertainty over interest‑rate paths.

On the office side, gross demand in regional Polish markets reached 307,300 sqm in H1 2026, while 73,700 sqm of new space was delivered and 150,400 sqm remains under construction – more than double 2025 output but still below 2019‑2023 levels. Demand fell 21% year‑on‑year, with 60% of activity driven by fresh leases and expansions. Average vacancy stood at 17.3%, highest in Katowice (22.2%) and Wrocław (21.8%). Class‑A buildings retained strong rents, up to €20 per sqm in Kraków, and transaction volume hit €360 million, matching the total of 2025. The market is polarising between premium, well‑located spaces and longer commercialisation cycles for older assets.