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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.
STRONG DEMAND FOR OFFICES IN REGIONS. THE KRAKÓW MARKET GREW THE MOST. TRICITY WITH A MILLION SQ M OF OFFICE SPACE.
At the end of the second quarter, eight regional office markets stock amounted to a total office space of 6.34 million sq m. Kraków still leads the pack with approx. 1.67 million sq m of offices, being followed by Wrocław with 1.3 million sq m.
REAL ESTATE INVESTORS SPENT OVER ONE BILLION TWO HUNDRED MILLION EURO IN THE SECOND QUARTER
High investment activity in the second quarter translated into the value of transactions on the commercial real estate market of more than EUR 1.2 billion.
RETAIL – A SECTOR OF CONTINUOUS CHANGES
More than 100,000 sqm of new retail space appeared on the market between the beginning of April and the end of June 2022. Smaller commercial formats accounted for more than half of the delivered space.
GOOD SECOND QUARTER FOR WARSAW OFFICES
growing demand, downward adjustment of vacancy rates, increased share of renewals in the structure of contracts signed, and limited supply; these are the primary shapers of the outlook for Warsaw offices in the second quarter of the year.
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