Eight regional markets receive nearly 50,000 sqm new office space in Q2

In the second quarter of 2023, a total of 48,100 square meters of office space was delivered on the eight main regional markets in Poland, according to the Polish Chamber of Commercial Real Estate (PINK). The largest projects completed were the New Rynek E in Poznan by Skanska (25,100 sqm) and Brama Oławska in Wrocław by Tower Inwestycje (11,700 sqm).

By the end of June 2023, the total office space available for immediate rent on these regional markets was 1,115,500 sqm, with a vacancy rate of 17.1%, increasing by 1.2 percentage points compared to the previous quarter and 1.9 percentage points year on year. The highest vacancy rate was in Łódź (23.4%), and the lowest in Szczecin (4.4%). The total volume of leasing transactions in Q2 2023 amounted to 166,000 sqm, slightly below the previous quarter and 12% lower than Q2 2022. Most of the transactions were new leases (72%), followed by renegotiations and extensions of existing contracts (20%) and expansions (7%).

Source: inwestycje.pl