Real estate
15:00 4 August 2021
Post by: WBJ

Demand for offices in regions gets higher than in Warsaw

Offices in regional cities enjoy great interest and trust among tenants. In the first half of 2021, 264,000 sqm were leased, 6 percent more than in Warsaw, according to the CBRE report. More than half of this result concerned space in Kraków and the Tri-City. The IT industry was the most active. A total of 124,000 sqm were put into use, and 936,000 sqm are under construction. CBRE experts indicate that despite the increase in tenant activity in the regional office market, companies are deciding on pre-lease contracts and expansion more cautiously than before the pandemic.

"The first half of the year, and especially the second quarter, brought a revival in the regional office market. Tenants' interest in renting is growing, but it is still visible that companies are cautious in making decisions, especially when it comes to pre-leasing new projects or expanding their current office space. commercialization of new office buildings, which is now, like in Warsaw, longer than before the pandemic. Nevertheless, developers are eager to implement new investments in the regions," Kamil Tyszkiewicz, head of regional markets at CBRE, said.

The largest share of new tenants was in Kraków and the Tri-City, where contracts were signed for 74,000 sqm and 72,200 sqm, respectively (28 percent and 27 percent of total demand). However, in terms of the ratio of demand to supply of space on the market, the most active markets were Tri-City and Katowice, where demand accounted for 7 percent and 6.6 percent of the total supply, respectively. This is much more than, for example, in Warsaw, where tenant activity accounted for 4.1 percent of the supply.

(WBJ)


cbre
offices
regions
kamil tyszkiewicz

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