Katowice office market slows down

Katowice, the fifth largest office property market in Poland, will this year see the lowest annual supply of new space since 2011, according to a recent report by Savills. The existing stock in the city, which amounted to 447,100 sqm at the end of Q1, is expected to grow by only 7,700 sqm in 2017, the study said. This will be the lowest figure among the largest cities in the country, noted Wioleta Wojtczak from the research and consultancy department of Savills in Poland. However, this will change as soon as next year when 35,300 sqm of new office space should be completed in Katowice, in projects including the first phase of .KTW (TDJ Estates, 18,200 sqm) and the fourth phase of Silesia Business Park (Skanska Property Poland, 12,000 sqm). Since the beginning of 2016, 47,600 sqm of office space has been leased in Katowice. In Q1 2017, the vacancy rate in the city stood at 14.6 percent.

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