An overview of the office market situation in eight of Poland’s largest regional cities – Krakow, Wroclaw, Tricity, Katowice, Poznan, Lodz, Lublin and Szczecin. The study includes data on supply, new construction, vacancy, tenant activity and rental trends.
Office market in regional cities – Q3 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
6,74 mln m²
Total Office Supply
76 600 m² (–67% r/r)
New Supply
214 400 m² (–56% r/r)
Space Under Construction
509 300 m² (–4% r/r)
Total Demand (take-up)
79 800 m² (+7% r/r)
Net Absorption
17,3% (+3 pb r/r)
Vacancy Rate
