The vacancy rate in Warsaw’s office property market decreased to 10.8% in the first quarter of 2018, which is the lowest level to have been recorded in the last five years, according to the latest report by Cresa. The company’s experts predict that the rate will continue to drop this and next year with the trend expected to be halted in 2020 when a substantial amount of new office space (approximately 470,000 sqm) is set to hit the Warsaw market. According to Cresa data, more than 200,000 sqm of office space was leased in the Polish capital in Q1 2018. Around 890,000 sqm of office space is now under construction in the city, of which only a fourth is scheduled to be completed this year.
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