{"id":11759,"date":"2025-04-16T12:11:02","date_gmt":"2025-04-16T10:11:02","guid":{"rendered":"https:\/\/savills.przemeknova.usermd.net\/warsaw-office-market-shows-signs-of-stabilization-and-selective-growth"},"modified":"2025-08-27T14:09:58","modified_gmt":"2025-08-27T12:09:58","slug":"warsaw-office-market-shows-signs-of-stabilization-and-selective-growth","status":"publish","type":"post","link":"https:\/\/dev.officemarket.pl\/en\/warsaw-office-market-shows-signs-of-stabilization-and-selective-growth","title":{"rendered":"Warsaw Office Market Shows Signs of Stabilization and Selective Growth"},"content":{"rendered":"\n

INCREASED DEMAND AND GROWING INTEREST IN KEY LOCATIONS<\/strong><\/h3>\n\n

At the end of March, the total supply of modern office space in the capital amounted to 6.27 million sq m, with almost half concentrated in central locations \u2013 including 1.01 million sq m in the Central Business District (CBD). It is precisely the central areas that remain the main point of tenant activity. They account for nearly 101,000 sq m of the total transaction volume of over 160,500 sq m. Tenant activity in Warsaw was 16% higher compared to the first quarter of 2024.<\/p>\n\n

Low new supply also affected the level of net absorption, which despite more than doubling compared to the same quarter of the previous year, reached only 12,200 sq m, or 1\/3 of the average net absorption from the first quarters of 2020-2024.<\/p>\n\n

In the demand structure, new lease agreements dominate with a 61% share, while renegotiations recorded a significant drop from 36% in Q1 2024 to 25% currently, which indicates a positive market situation and signals that overall demand for office space this year may reach a satisfactory level. Expansion agreements and pre-leases had shares of 9% and 5% respectively. <\/p>\n\n

CENTRAL LOCATIONS WITH LOW VACANCY RATES<\/strong><\/h3>\n\n

The vacancy rate in all of Warsaw decreased to 10.5%, while in central office locations it fell to 7.4%. For comparison, outside the center it was 13.0%. With no new supply and a decreasing number of square meters under construction (212,000 sq m, which is 27% less y\/y), the quality and location of office buildings are gaining increasing importance. As much as 93% of newly constructed offices are being developed precisely in central districts with convenient access to public transport and space of the highest standard. <\/p>\n\n

Among the largest investments that will supply the market in the coming years are The Bridge (Ghelamco, 52,000 sq m, opening in the coming months), Upper One (Strabag, 35,000 sq m, planned opening in Q4 2026) and Office House (Echo Investment, 31,000 sq m, planned opening in Q2 2025). <\/p>\n\n

\n

– We estimate that in an optimistic scenario, by the end of 2027, the capital’s market will be supplied with approximately 340,000 sq. m. offices. The pace at which new supply will be delivered will be influenced by several factors, among which project financing security and the degree of pre-lease agreements will play an important role <\/em> \u2013 <\/p>\nm\u00f3wi Daniel Czarnecki, Head of Landlord Representation, Savills.<\/strong><\/cite><\/blockquote>\n\n

Rents in prestigious office buildings in the center remain at the level of EUR 22.50\u201326.00\/sq m\/month, with rental costs for the best properties potentially exceeding EUR 27\/sq m\/month. In the S\u0142u\u017cewiec area, rates remain competitive and range from EUR 13.25 to 15.00\/sq m\/month. In the context of decreasing availability of high-class offices and limited new supply, pressure for rent increases is anticipated.<\/p>\n\n

\n

\u2013 Although the beginning of the year brought caution in implementing new projects, this very moment creates space for redefining the approach to office functions. We observe growing interest in spaces that not only meet companies’ operational needs but also support organizational culture and team engagement building. Flexible office spaces such as flex and comfortable coworking spaces are becoming popular, meeting the requirements of new generations of workers. In the coming quarters, those who can combine location with the ability to adapt to new trends will gain an advantage \u2013 <\/em><\/p>\n <\/em>komentuje Jaros\u0142aw Pilch, Head of Tenant Representation, Savills.<\/strong><\/cite><\/blockquote>\n\n

LIMITED SUPPLY, BUT WITH QUALITY-FOCUSED PROJECTS<\/strong><\/h3>\n\n

Although the market still faces challenges such as limited developer activity and rising tenant expectations, data from the first quarter indicates progressive stabilization. Supply rationalization, gradual decline in vacancy rates, and strong interest in the best locations and high standards are symptoms that may positively impact the office sector in the coming months. <\/p>\n\n

Download report: Warsaw Office Report Q1 2025<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

INCREASED DEMAND AND GROWING INTEREST IN KEY LOCATIONS At the end of March, the total supply of modern office space in the capital amounted to 6.27 million sq m, with almost half concentrated in central locations \u2013 including 1.01 million sq m in the Central Business District (CBD). It is precisely the central areas that […]<\/p>\n","protected":false},"author":2,"featured_media":1271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[557],"tags":[277],"strefa_wiedzy":[55],"class_list":["post-11759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bialystok-2","tag-research","strefa_wiedzy-news"],"acf":{"autor_1":{"autor_aktualnosci_1":{"ID":20620,"post_author":"2","post_date":"2026-02-17 09:02:36","post_date_gmt":"2026-02-17 08:02:36","post_content":"","post_title":"Daniel Czarnecki","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"daniel-czarnecki","to_ping":"","pinged":"","post_modified":"2026-02-17 09:02:36","post_modified_gmt":"2026-02-17 08:02:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/officemarket.pl\/?post_type=doradcy&p=20620","menu_order":0,"post_type":"doradcy","post_mime_type":"","comment_count":"0","filter":"raw"}},"autor_2":{"autor_aktualnosci_2":{"ID":20632,"post_author":"2","post_date":"2026-02-17 09:07:31","post_date_gmt":"2026-02-17 08:07:31","post_content":"","post_title":"Jaros\u0142aw Pilch","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"jaroslaw-pilch","to_ping":"","pinged":"","post_modified":"2026-02-23 12:58:37","post_modified_gmt":"2026-02-23 11:58:37","post_content_filtered":"","post_parent":0,"guid":"https:\/\/officemarket.pl\/?post_type=doradcy&p=20632","menu_order":0,"post_type":"doradcy","post_mime_type":"","comment_count":"0","filter":"raw"}},"powiazane":[{"ID":11753,"post_author":"2","post_date":"2025-07-09 09:53:35","post_date_gmt":"2025-07-09 07:53:35","post_content":"\n

GROWING RESOURCES AT CENTER, HIGH QUALITY MATTERS<\/strong><\/h3>\n\n

Warsaw's office stock at the end of June 2025 stood at 6.33 million sqm, 46% of which was located in central zones. On the office map of the capital, the Daszy\u0144skiego traffic circle area, which remains the main beneficiary of development investments, particularly stands out.<\/p>\n\n

\n

Tenant demand is focused on projects that offer the highest quality, sustainability certifications and a central location. This is a continuation of the flight to quality trend we have been seeing for several quarters now <\/em> <\/p>\ncomments Jaroslaw Pilch<\/strong>, Head of Tenant Representation, Savills.<\/cite><\/blockquote>\n\n

The \"flight to quality\" trend - i.e., the search for the best locations and the highest ESG standards - is not only continuing, but increasingly influencing the strategies of both tenants and property owners. Limited new supply will further reinforce the pressure for the best offices in top locations. <\/p>\n\n

NEW SUPPLY ON THE RISE, BUT INVESTMENT UNDER CONSTRUCTION IS GETTING SCARCE<\/strong><\/h3>\n\n

In H1 2025, developers delivered the largest amount of new space in three years. New supply compared to the January-June period a year ago increased by 34% and amounted to 85,200 sqm. Major developments include: The Bridge (52,000 sqm, Ghelamco) and Office House (27,800 sqm, Echo Investment). Both are located in the office basin near Daszy\u0144skiego Roundabout (West Center subzone). <\/p>\n\n

At the same time, the volume of projects under construction halved from last year, reaching 140,000 sqm. As much as 86% of this space is being developed in the city center. Among the largest investments at which work is underway are: Upper One (35,500 sqm), V Tower (30,700 sqm) and Studio A (24,000 sqm).<\/p>\n\n

\n

A lower volume of investment under construction could mean limited availability of modern space in the next 2-3 years, especially in top locations. According to our analysis, up to 250,000 sqm of new space could be built by 2027. Such a low level of new supply is good news for owners of top office buildings, who will be able to count on increased interest in their investments. <\/em> Older projects in very good locations will re-enter the game. One example is the well-known Atrium 1 office building at the UN traffic circle, which has undergone extensive modernization and, after rebranding, has turned into Wise Point and offers more than 18,000 sq. m. of leasable space <\/em><\/p>\nsays Daniel Czarnecki<\/strong>, Head of Landlord Representation, Savills.<\/cite><\/blockquote>\n\n

STABLE TENANT ACTIVITY, SHARE OF RENEGOTIATIONS DECREASES<\/strong><\/h3>\n\n

Total gross demand in the first half of the year amounted to 301,400 sqm, registering a slight decline of around 5% compared to the same period a year ago. Central zones accounted for 55% of the demand, with the largest number of contracts concluded in the Centrum zone (102,800 sqm) and S\u0142u\u017cewiec (72,800 sqm). The authors of the report emphasize that the structure of demand has changed compared to the first half of the previous year - new contracts accounted for 47% of the volume, renegotiations dropped to 43%, and pre-leases accounted for only 2%. Expansions accounted for 8% of signed contracts.<\/p>\n\n

VACANCIES DOWN IN THE CENTER, UP OUTSIDE IT<\/strong><\/h3>\n\n

At the end of the first half of the year, there were 682,700 sqm of offices available for lease across the city, and the vacancy rate stood at 10.8%, down 10 bps y\/y. In the center, the availability of space decreased to 7.8% (down 130 bps y\/y), while in non-center zones it increased to 13.3% (up 100 bps y\/y). The largest amount of vacant space is in S\u0142u\u017cewiec (223,900 sqm), in the Center zone (155,800 sqm) and along the Jerozolimskie Avenue corridor (87,100 sqm). These three zones account for almost 70% of the vacant offices in Warsaw. <\/p>\n\n

RENTS AND SERVICE CHARGES: HIGH QUALITY FOR THE PRICE<\/strong><\/h3>\n\n

Asking rents for prime space in the center range from 22.50 to 26.00 EUR\/sq.m.\/month, with a possible increase to 28.00 EUR\/sq.m.\/month for premium space under construction. In non-central zones, rates for A-class projects range from 14.00 to 18.00 EUR\/sq.m.\/month. Service charges reach as high as PLN 40\/sq.m.\/month.<\/p>\n\n

TRENDS FOR THE COMING QUARTERS: MODERNIZATION, CONVERSIONS AND SELECTIVE DEMAND<\/strong><\/h3>\n\n

In the coming quarters, the key developments shaping the Warsaw office market will be conversions, upgrades and deepening quality selection of space by tenants.<\/p>\n\n

\n

More and more owners of older buildings, even those in central locations, are looking into changing their function, primarily to residential use. At the same time, some older office buildings are undergoing comprehensive modernization or repositioning in order to compete with modern projects in terms of technical standard and attractiveness to tenants <\/em><\/p>\nsays Wioleta Wojtczak<\/strong>, Head of Reaserch, Savills.<\/cite><\/blockquote>\n\n

Download report: Savills MiM Warsaw Office H1 2025<\/a><\/p>\n\n

<\/p>\n","post_title":"Warsaw office market in H1 2025: more new space, fewer developments under construction","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warsaw-office-market-in-h1-2025-more-new-space-fewer-developments-under-construction","to_ping":"","pinged":"","post_modified":"2025-08-27 13:58:42","post_modified_gmt":"2025-08-27 11:58:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/savills.przemeknova.usermd.net\/warsaw-office-market-in-h1-2025-more-new-space-fewer-developments-under-construction","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11757,"post_author":"2","post_date":"2025-04-24 12:03:16","post_date_gmt":"2025-04-24 10:03:16","post_content":"\n

RESOURCE STRUCTURE<\/strong><\/h3>\n\n

At the end of March, the total office stock of the eight major regional cities stood at 6.76 million sqm. The most developed markets remain Krakow, Wroclaw and the Tri-City, which together concentrate 63% of the stock. Each of these cities has more than 1 million sq. m. of modern space. Katowice, Pozna\u0144 and \u0141\u00f3d\u017a together account for 31% of the resources, while Lublin and Szczecin account for the remaining 6%. <\/p>\n\n

Less than 203,000 sqm remains under construction, down 26% from a year ago. By comparison, annual average volumes from 2015-2019 reached 908,000 sqm, and from 2020-2024 - 522,000 sqm. Such a pronounced reduction in new investments may result in a further decline in available space in the coming quarters, and thus also in a reduction in leasing options for tenants.<\/p>\n\n

PUSTOSTANS<\/strong><\/h3>\n\n

At the end of March, the regions had 1.18 million sq. m. of vacant space, translating into an average vacancy rate of 17.5% (down 0.3 p.p. y\/y). Five cities had vacancy rates of at least 15%, and these were \u0141\u00f3d\u017a (22.3%), Katowice (21.1%), Wroc\u0142aw (20.4%), Krak\u00f3w (14.6%) and Pozna\u0144 (15.0%). Space availability was lower in the remaining cities, with the rate between 8% in Szczecin and 12.6% in the Tri-City. <\/p>\n\n

\n

- Limited supply puts landlords in a fairly comfortable position, as it potentially opens up room for rental growth in the near term. Nevertheless, with the current high vacancy rate and strong competition, successful commercialization today requires extremely active efforts to attract and retain tenants <\/em><\/p>\nDaniel Czarnecki<\/strong>, Head of Landlord Representation, Office Agency, Savills.<\/cite><\/blockquote>\n\n

DEMAND AND SECTORS DRIVING THE MARKET<\/strong><\/h3>\n\n

Despite scant new supply, demand in regional cities remained strong, reaching 176,900 sqm in the first quarter. This is 27% better than a year ago and 17% above the average for the first quarters of 2020-2024. Tenants were particularly active in Krakow (56,600 sq m) and Wroclaw (43,800 sq m). Higher gross demand than in the same period last year was also recorded in the Tri-City, Katowice, Pozna\u0144 and Lublin. <\/p>\n\n

Four industries - IT, business services, manufacturing and finance - generated a total of 58% of total demand. The IT sector had the largest share (18%), just ahead of business services (16%), manufacturing (14%) and finance (10%). 5% went to flex office operators, who chose to expand their business in the regions. The structure of transactions shows that almost half of the volume was accounted for by renegotiations of existing contracts (48%), while new contracts accounted for 41%. In addition, there was an 8% share of expansions and 3% of pre-leases. <\/p>\n\n

\n

- The average regional vacancy rate is still around 18%, which may give a false sense of comfort, but with historically low new supply, this \u201ccushion\u201d may shrink faster than it seems. Companies planning to expand or relocate should therefore book space well in advance and finalize contracts quickly to secure the best locations and terms <\/em>- <\/p>\nJaroslaw Pilch<\/strong>, Head of Tenant Representation, Office Agency, Savills.<\/cite><\/blockquote>\n\n

RENTS AND OPERATING COSTS<\/strong><\/h3>\n\n

Base rates in A-class office buildings in the regions were between EUR 12.00 and EUR 17.00\/sqm\/month. The highest rents are in Pozna\u0144 (up to EUR 17), followed closely by Krak\u00f3w and Wroc\u0142aw (up to EUR 16.50). Maintenance fees, as a rule, do not exceed 37 PLN\/sq.m.\/month, although their amount depends mainly on the efficiency of the building.<\/p>\n\n

PERSPECTIVES<\/strong><\/h3>\n\n
\n

- By the end of 2027, developers say they will have delivered up to 475,000 sq. m. of new space. The vast majority of this space may not hit the market until the final year of the forecast. Much, however, depends on market conditions, i.e. further decline in office availability, increased tenant activity and access to financing for projects, among others <\/em>-<\/p>\n comments Wioleta Wojtczak<\/strong>, Head of Research, Savills.<\/cite><\/blockquote>\n\n

The current market situation favors owners of the best-located and sustainable buildings, but at the same time raises the bar for planned projects - only those of the highest standard, well connected and with confirmed demand in the form of pre-leases - will have a chance for commercialization.<\/p>\n\n

Download the report: Savills MiM Office Regions Q1 2025<\/a><\/p>\n","post_title":"Regional offices under pressure from limited supply","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"regional-offices-under-pressure-from-limited-supply","to_ping":"","pinged":"","post_modified":"2025-08-27 14:08:02","post_modified_gmt":"2025-08-27 12:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/savills.przemeknova.usermd.net\/regional-offices-under-pressure-from-limited-supply","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11759,"post_author":"2","post_date":"2025-04-16 12:11:02","post_date_gmt":"2025-04-16 10:11:02","post_content":"\n

INCREASED DEMAND AND GROWING INTEREST IN KEY LOCATIONS<\/strong><\/h3>\n\n

At the end of March, the total supply of modern office space in the capital amounted to 6.27 million sq m, with almost half concentrated in central locations \u2013 including 1.01 million sq m in the Central Business District (CBD). It is precisely the central areas that remain the main point of tenant activity. They account for nearly 101,000 sq m of the total transaction volume of over 160,500 sq m. Tenant activity in Warsaw was 16% higher compared to the first quarter of 2024.<\/p>\n\n

Low new supply also affected the level of net absorption, which despite more than doubling compared to the same quarter of the previous year, reached only 12,200 sq m, or 1\/3 of the average net absorption from the first quarters of 2020-2024.<\/p>\n\n

In the demand structure, new lease agreements dominate with a 61% share, while renegotiations recorded a significant drop from 36% in Q1 2024 to 25% currently, which indicates a positive market situation and signals that overall demand for office space this year may reach a satisfactory level. Expansion agreements and pre-leases had shares of 9% and 5% respectively. <\/p>\n\n

CENTRAL LOCATIONS WITH LOW VACANCY RATES<\/strong><\/h3>\n\n

The vacancy rate in all of Warsaw decreased to 10.5%, while in central office locations it fell to 7.4%. For comparison, outside the center it was 13.0%. With no new supply and a decreasing number of square meters under construction (212,000 sq m, which is 27% less y\/y), the quality and location of office buildings are gaining increasing importance. As much as 93% of newly constructed offices are being developed precisely in central districts with convenient access to public transport and space of the highest standard. <\/p>\n\n

Among the largest investments that will supply the market in the coming years are The Bridge (Ghelamco, 52,000 sq m, opening in the coming months), Upper One (Strabag, 35,000 sq m, planned opening in Q4 2026) and Office House (Echo Investment, 31,000 sq m, planned opening in Q2 2025). <\/p>\n\n

\n

- We estimate that in an optimistic scenario, by the end of 2027, the capital's market will be supplied with approximately 340,000 sq. m. offices. The pace at which new supply will be delivered will be influenced by several factors, among which project financing security and the degree of pre-lease agreements will play an important role <\/em> \u2013 <\/p>\nm\u00f3wi Daniel Czarnecki, Head of Landlord Representation, Savills.<\/strong><\/cite><\/blockquote>\n\n

Rents in prestigious office buildings in the center remain at the level of EUR 22.50\u201326.00\/sq m\/month, with rental costs for the best properties potentially exceeding EUR 27\/sq m\/month. In the S\u0142u\u017cewiec area, rates remain competitive and range from EUR 13.25 to 15.00\/sq m\/month. In the context of decreasing availability of high-class offices and limited new supply, pressure for rent increases is anticipated.<\/p>\n\n

\n

\u2013 Although the beginning of the year brought caution in implementing new projects, this very moment creates space for redefining the approach to office functions. We observe growing interest in spaces that not only meet companies' operational needs but also support organizational culture and team engagement building. Flexible office spaces such as flex and comfortable coworking spaces are becoming popular, meeting the requirements of new generations of workers. In the coming quarters, those who can combine location with the ability to adapt to new trends will gain an advantage \u2013 <\/em><\/p>\n <\/em>komentuje Jaros\u0142aw Pilch, Head of Tenant Representation, Savills.<\/strong><\/cite><\/blockquote>\n\n

LIMITED SUPPLY, BUT WITH QUALITY-FOCUSED PROJECTS<\/strong><\/h3>\n\n

Although the market still faces challenges such as limited developer activity and rising tenant expectations, data from the first quarter indicates progressive stabilization. Supply rationalization, gradual decline in vacancy rates, and strong interest in the best locations and high standards are symptoms that may positively impact the office sector in the coming months. <\/p>\n\n

Download report: Warsaw Office Report Q1 2025<\/a> <\/p>\n","post_title":"Warsaw Office Market Shows Signs of Stabilization and Selective Growth","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"warsaw-office-market-shows-signs-of-stabilization-and-selective-growth","to_ping":"","pinged":"","post_modified":"2025-08-27 14:09:58","post_modified_gmt":"2025-08-27 12:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/savills.przemeknova.usermd.net\/warsaw-office-market-shows-signs-of-stabilization-and-selective-growth","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"wstep":"

The beginning of 2025 brought the Warsaw office market an opening accompanied by increased demand and limited developer activity. According to the latest report by Savills Poland “Warsaw Office Market Q1”, such limited quarterly new supply of office space is a rare situation. <\/p>\n","spis_tresci":"