A summary of the situation in the Warsaw office market in 2024, presenting data on new supply, vacancy, tenant activity, rents, and investment and urban development trends. The report also includes the outlook for 2025-2027.
Warsaw office market – 2024
Report summary
More than 104,000 sqm of new office space was delivered in 2024 – the most since 2021. New developments were mainly concentrated in the City Center West zone (about 70,000 sqm), with completions including The Form (29,400 sqm), Lixa D&E (26,300 sqm) and Vibe A (15,000 sqm). The average commercialization level of the new supply was 68%.
Developers are being cautious, with only 227,700 sqm under construction, of which only 21,000 sqm outside the central zones. There is also a trend of demolishing obsolete buildings, especially in Służewiec (e.g. Curtis Plaza – 14,400 sqm).
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
