Retail sales growth is to reach 3.5% in 2015, which is lower than the expected growth of retail stock of 5.5% hence may lead to an increase in vacancy rate and a drop in turnovers.
Approximately 793,000 sq m of retail space is under construction Poland wide of which 47% is located in the biggest cities of above 300,000 inhabitants.
Few anchor tenants plan to enter Poland.
The commercialization process of new centres is more complex and time consuming due to saturation of the market, limited number of new anchors and tenants' strategies to limit the number of new openings.
The volume of investment transactions in the retail sector is expected to double in 2015 compared with a low volume of €566 million recorded in 2014.
Prime yields in 2014 were stable at ca. 5.75% for the best shopping centres in Warsaw, 6.00% for dominant shopping centres in major regional cities but are expected to harden slightly in 2015.
Source : Savills