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Office developments in Warsaw: analysis and trends in late 2024
In the fourth quarter of 2024, Warsaw’s office market continued to experience stable occupier demand amid constrained new supply, with tenants seeking to secure spaces in the city centre and expecting sustainable solutions, reveals “At a Glance: Warsaw Office Market, Q4 2024”, a report from BNP Paribas Real Estate Poland.
Changes at BNP Paribas Real Estate Poland
Starting at the beginning of December, Małgorzata Fibakiewicz will lead the Office Agency, and Justyna Magrzyk-Flemming will become the Head of Business Services.
The commercial real estate investment market has still something to say
In total, in the third quarter, Polish commercial real estate investors spent just over EUR 1.4 billion. Most of it was invested in logistics, warehousing, and industrial projects. Players from the United States were particularly active.
Retail real estate enshadowed by inflation
At the end of September, the total existing retail space in Poland approached 15.5 million sqm, with new quarterly supply reaching 70,000 sqm. As in previous quarters, retail parks performed very well.
Challenging times ahead for Warsaw offices
In the third quarter of the year, the office stock in Warsaw grew by 99,100 sqm, most of which attributed to one of town’s new symbols – the Varso Tower office skyscraper.
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