Cumulative retail sales growth for the period between 2014 and 2024 is forecasted at 35.2% according to Oxford Economics.
Economic indicators forecasted for the next 10 years are supportive of the retail market development in Poland and the expansion of retail brands.
Ca. 9.9 million sq m of retail space is located in 380 shopping centres, 40 retail parks and 10 outlets.
Over 891,000 sq m of retail space is under construction Poland wide of which 228,000 sq m will be completed by year end.
Convenience centres, strip malls and small retail parks are usually present in smaller cities and are becoming more popular.
The volume of retail transactions in H1 2014 amounted to EUR 360 million and is expected to reach EUR 1.0-1.2 billion by year end.
Yields are stable at ca. 5.75% for the best shopping centres in Warsaw, 6.00% for dominant shopping centres in major regional cities.
Source : Savills