The report contains an analysis of Krakow’s office market for the first half of 2024. You will find data on supply and demand, vacancy levels, the largest transactions and trends in rents and service charges. The report also presents the market outlook for the next quarters.
Kraków office market – 1st half 2024
Report summary
In the first half of 2024, the total supply of modern office space in Krakow reached 1.82 million sqm. Two new projects were delivered with a total area of 14,400 sqm – Brain Park C (13,000 sqm) and Roko Office Point (1,400 sqm), 85% of which have already been leased.
Tenant activity increased by 13% y/y, reaching 93,500 sqm, with the IT (35%), manufacturing (27%) and business services (18%) sectors accounting for the largest share of demand. The largest transactions were a contract renegotiation by APTIV (10,300 sqm) and a new deal by Volvo Tech Hub (10,100 sqm).
The vacancy rate was 20.2%, and net absorption was positive at 4100 sqm. Rents for A-class offices are in the range of EUR 13.50-16.50/m²/month, with service charges reaching up to PLN 30/m²/month.
Key data
6,78 mln m²
Total Office Supply
123 800 m² (–56% r/r)
New Supply
203 400 m² (–41% r/r)
Space Under Construction
714 000 m² (–4% r/r)
Total Demand (take-up)
87 600 m² (–9% r/r)
Net Absorption
17,8% (+30 pb r/r)
Vacancy Rate
