Colliers Wrocław sums up 2021 in the office market

The office space rental market in Wrocław recorded a significant rebound in 2021 compared to 2020 and 2019, according to data from the consulting company Colliers. In the capital of the Lower Silesian Voivodeship, transactions were concluded for the lease of over 135,000 sqm of offices, which is the second-highest result among regional markets last year.

"2021 was much better in terms of the number of concluded transactions than the previous two years. Investments under construction are leased at a much faster pace compared to the previous years. Our observations show that virtually every office building on the day of receiving the occupancy permit is 70-80 percent leased, which was not so obvious even in the pre-pandemic period," Dorota Kościelniak, Colliers Regional Director in Wrocław, said.

In 2021, there was a percentage increase in new contracts in the demand structure (67 percent in 2021 vs. 23 percent in 2020). The new contracts mainly concerned relocation of companies to new office buildings. On the other hand, a clear decrease in the share of renegotiations is noticeable – in 2021 it amounted to 28 percent vs. 37 percent in 2020. For comparison, renegotiations and extensions of existing contracts in total in eight main regional markets accounted for 43 percent of the demand registered in 2021.

The largest transactions concluded in 2021 in Wrocław include the pre-lease of 3M Service Center EMEA in the MidPoint71 office building (12,300 sqm). It is also the largest relocation transaction on the Wrocław market in 2021.

(WBJ)