Downtown Warsaw with record-high office supply in 2016 – report
17:24
The supply of new office space in Warsaw was last year 65 percent higher than the annual average recorded in the city in the years 2011-2015, according to the latest report by Cushman & Wakefield. A total of more than 400,000 sqm of office area was completed in the Polish capital in 2016, with over 200,000 sqm located in central locations, the study said. In the opinion of Cushman & Wakefield experts, the city center, which saw the completion of two office towers – Warsaw Spire A (59,000 sqm) and Q22 (46,400 sqm) – in 2016, will continue to witness intensive office development activity in the next two years. At the end of last year, the vacancy rate in central Warsaw stood at 17.3 percent, a four-percentage point increase y/y. Prime headline rents in the Central Business District amounted to €23.5-€24/sqm/month, the Cushman & Wakefield report said.
