Developer drought coming for offices
21:37
Poland’s office development pipeline has fallen to historic lows, with less than 200,000 sq. m of new space expected annually in 2026-2027, compared with 700,000 sq. m completed in 2020. Despite the slowdown, the commercial real estate market remains active. Office investment reached EUR 549 mln in H1 2026, up 35% y/y, while tenant demand also strengthened. Office absorption rose 125% y/y and the national vacancy rate fell to 13.1%. Warsaw led the market, with leasing volume up 38% y/y to 416,600 sq. m and vacancies down to 8.5%.
With limited new supply ahead, companies are increasingly renewing leases or securing future relocations well in advance.
