Demand for office space in Warsaw stable, but half as many new projects

Interest in office space in the capital is growing. Especially central, comfortable locations attract tenants. In the period from January to September 2023, demand reached almost 500,000 sqm – according to the latest data from CBRE. In particular, there was a growing trend in the third quarter compared to previous months. Offices were mainly rented by business services and processing and energy. However, there are not many new developments. This year, the market will grow by about 70,000 sqm of workspace. 

“Companies are increasingly following quality. They are looking for space in a better, most often central location and with the possibility of arranging the space to suit the needs of their employees. This is dictated by the need to attract and retain talent in a very competitive labor market. Demand for office space in Warsaw has been on an upward trend in recent months, so with limited availability, we expect rents to continue to rise. We will notice this, especially in the most comfortable buildings, located in the best locations,” Katarzyna Gajewska, director of the market research and analysis department at CBRE, said.

(WBJ)