The report provides an overview of the Warsaw office market, including an analysis of new supply, tenant activity, vacancy levels, rental rates and trends in office construction and modernization. The report also includes the outlook and challenges for the coming months.
Warsaw office market – 1st half 2024
Report summary
In H1 2024, 63.7 thousand sqm of new space was delivered to the Warsaw market, of which as much as 89% was located in central zones (including Lixa C, Vibe A, Saski Crescent). Development activity increased by 13% y/y and is mainly concentrated in the center (83% of investments).
Demand reached 316.4 thousand sqm – the most in Służewiec (71.5 thousand sqm), Centrum (64 thousand sqm) and CBD (62.2 thousand sqm). Renegotiations accounted for more than half of the transactions (51%), while new contracts accounted for 41%.
Key data
6,23 mln m²
Total Office Supply
60 900 m² (–74% r/r)
New Supply
264 900 m² (+43% r/r)
Space Under Construction
748 800 m² (–13% r/r)
Total Demand (take-up)
140 600 m² (–51% r/r)
Net Absorption
10,4% (–120 pb r/r)
Vacancy Rate
