The year 2025 was not a time of sharp price jumps, but it was a year of concrete outcomes for investment land owners. The market rewarded decisions made consciously and in advance, while increasingly quickly calling into question plots that were put up for sale without preparation or with overestimated expectations.

From the perspective of the processes managed by NAVIMO, it was clearly evident that those owners who understood the potential of their plot – not only in terms of location, but also planning and functionality – were able to sell. In such cases, negotiations concerned the terms of the transaction rather than the validity of the price. In other scenarios, the market quickly forced adjustments.

In the first half of 2025, transaction volumes remained at a level similar to 2024, which in practice meant one thing: demand was present, but selective. Investors were buying land that allowed them to make decisions without planning or procedural risks. For owners, this meant having to clearly answer the question: is my plot ready for sale, or simply listed?

Overall picture of the investment land market in 2025 

Stabilization and transactional activity

• In 2025, the investment land market in Poland showed sustained transaction activity at a level similar to 2024.
• In the first half of 2025, the exhaustion of the government program “Safe 2% Mortgage” noticeably led residential developers to adopt more conservative investment budgeting.
• Investor sentiment improved significantly in the second half of 2025 due to the consistent downward trend in NBP interest rates (four cuts since September this year). 

Investment trends

• Investors are increasingly focusing on land for residential development, logistics (including, among others, SBU – Small Business Units), convenience retail formats, and mixed-use projects. 
• Investment land prices continue to grow, but at a slower pace than in previous years — the growth is generally assessed as moderate.  

Risk factors

• Ongoing legislative changes in spatial planning and delays in implementing reforms are affecting the market — causing uncertainty and often accelerating investor decisions (the “first come, first served” effect).  

Regional cities – summary of 2025

Investment activity

According to estimates, the average increase in investment land prices in Poland in 2025 was approximately 7.0%.

Example price ranges for investment land (average levels around mid-2025)

Warsaw

• Residential land (GFA) – approximately 4,000–15,000 PLN/m² in the city center, 1,500–4,000 PLN/m² outside the center.
• Office land – 4,000–6,000 PLN/m² in the city center, 1,000–4,000 PLN/m² outside the center.
• Commercial and service land – 1,600–5,200 PLN/m² in the city center, 500–2,500 PLN/m² outside the center.
• Industrial and warehouse land – 500–1,100 PLN/m².  

Regional cities (over 500,000 inhabitants)

• Residential: 1,500–6,000 PLN/m² GFA
• Office: 500–3,500 PLN/m² GLA
• Commercial/service: 300–1,700 PLN/m²
• Industrial/logistics: generally lower than in Warsaw (regionally varied). 

In practice, this means that Warsaw remains the most expensive investment land market in Poland, but price differences are less drastic than a few years ago, particularly in the logistics land segment and in selected locations of regional cities.  

Warsaw – Summary 2025

Highlights and Challenges

• Strong demand for residential land – developers continued to expand their land banks despite higher prices, investing in plots in strategic locations.  
• Price pressure in the city center – record prices for the most attractive plots (even exceeding levels from a few years ago), but with slower growth dynamics than before.  
• Office and logistics investments – Warsaw continues to attract investors, although some capital seeks lower costs outside the capital.  

Trends

• Growing role of domestic investors in transactions (greater involvement of local capital in investment portfolios).  
• Increasing interest in plots for mixed-use projects (residential-service/logistics).  

Regional Cities – Summary 2025

Investment Activity

• Cities such as Kraków, Wrocław, and the Tricity maintained high interest in investment land, especially for residential, urban logistics, and PRS (Private Rented Sector) projects.  
• Land prices in major regional cities were generally lower than in Warsaw, improving the profitability of large-scale projects. 

Local Examples

• In Kraków, developer activity and record land offers were observed in some locations, although market commentary also indicates mixed investor sentiment due to demand stabilization.  
• Dynamic infrastructure and regional connectivity continue to support local investment land markets, attracting logistics and residential capital.  
• The most demanding and local markets (and therefore premium-priced in valuations), such as Kraków, show a strong tendency toward horizontal market integration, which is increasingly visible in the growing number of examples of entire land banks or development structures being sold.

Key Conclusions for 2025

What Was Confirmed

• The investment land market in 2025 was stable, with moderate price growth and transaction activity similar to 2024 levels.  
• Price differences between Warsaw and regional cities persist, although regions are catching up in attractiveness due to lower costs and the potential for larger projects.  
• Regulatory uncertainty and planning procedures remain key risk factors, continuing to influence the pace of decisions and land prices.  

Limitations and Caution Signals

The growth rate of residential land prices was rather moderate than rapid, which may result from cautious demand from developers and expectations regarding legislative changes. 

Summary

The year 2025 did not bring dramatic shifts in the investment land market, but it clearly shifted the responsibility toward the landowner. The market remained active, prices grew moderately, and investors were present — but they purchased only where decisions were based on data rather than expectations.

From NAVIMO’s perspective, this was particularly evident in sales processes: the same location could result in completely different transaction outcomes depending on the timing of market entry, plot preparation, and how it was presented to investors. Landowners who could answer questions regarding intended use, planning risks, and real investment potential sold faster and on predictable terms. Others often had to learn the market during the process.

The most important lesson of 2025 is that the time of “test selling” is over. In conditions of regulatory uncertainty and selective demand, the decision to sell investment land must be well considered and based on real analysis, not on comparisons with individual offers or historical price records.

For owners planning sales in the coming years, this means one thing: the market still offers opportunities, but rewards preparation. Proper timing, a well-chosen strategy, and reliable valuation increasingly determine whether a transaction ends in success — or in a months-long process of adjustments.

Outlook for 2026

The year 2026 will be a period of greater selectivity in the investment land market, mainly due to the implementation of general plans and changes in the spatial planning system. Investors will increasingly make decisions based on the clarity of planning situations, which will result in a clear differentiation of demand between different types of land.

Plots covered by local zoning plans — especially with residential or residential-service functions — will naturally be the first choice for some investors in 2026. They provide process predictability, a shorter investment path, and lower regulatory risk, which is particularly important in a changing planning environment.

At the same time, the market will not exclude other types of land. Plots with non-residential designations, as well as land without an approved local zoning plan (MPZP), will still be of interest — particularly in large cities and their growth zones. In such cases, the possibility of changing land use, plot scale, and long-term location potential will be crucial. For experienced investors, these are the plots that remain a space for creating value.

In practice, this means that 2026 will not be a year of eliminating certain products, but a year of proper strategy alignment. “Planning-ready” land will sell faster and with less negotiation pressure, while larger plots requiring planning work or rezoning will require adequate preparation, communication, and investment horizon — but will remain attractive on the market.