
Warsaw office market falls into a supply gap
2023 got off to a challenging start on the Warsaw office market with a significant decline in gross take-up and no new office space coming on stream in the first quarter of the year.
In the first quarter of 2023, the Warsaw retail market welcomed a refurbished Fort Wola shopping centre after a six-year break. Mayland, the new owner, carried out a major renovation, turning the complex into a facility tailor-made for today’s needs.
Record-high inflation is sending office rents ever higher on regional markets, weighing heavy on tenants. The overall vacancy rate edged up by 0.6 pp in Q1 2023, with a supply gap becoming imminent.
As expected, financing constraints and economic uncertainty saw the Polish commercial real estate market underperform in early 2023.
2023 got off to a challenging start on the Warsaw office market with a significant decline in gross take-up and no new office space coming on stream in the first quarter of the year.
Całkowity wolumen transakcji w ubiegłym roku na 17 największych rynkach wyniósł 9,169 mln mkw., co oznacza wzrost o 10% w porównaniu z 2021 r. Jest to jednocześnie wynik zbliżony do średniej długoterminowej.