Increase in activity in the Warsaw office market: report

As a result of the Covid-19 pandemic, most companies switched to remote work and reduced the demand for office space, which is reflected in Colliers ‘Warsaw Office Zones Guide' report’s data. Thanks to vaccinations and a reduction in the number of Covid-19 cases, in Q2 and Q3 2021 we have seen a gradual return of employees to offices and an increase in tenant activity in the Polish capital.

Office stock in the capital currently amounts to nearly 6.2 million sqm. The largest zones in terms of existing office space are City Center (over 1.7 million sqm), Mokotów (1.45 million sqm), and the Central Business District (960,100 sqm).

In Warsaw, since the beginning of 2020, developers have completed nearly 604,200 sqm of office space in 28 buildings. Most of the new supply has been delivered in the City Center (nearly 433,000 sqm), 96 percent of which were projects located in the City Center West subzone. 

“We can see different industries concentrate in different zones. While the financial sector and legal and advisory services are attracted by the prestige of the CBD, Jerozolimskie or Puławska Corridor are often chosen by manufacturing sector companies. Mokotów, on the other hand, is an attractive location for the IT, banking & finance, services, and transport sector,” Izabela Kapil, Director in the Office Agency, Landlord Representation at Colliers, said.   

(WBJ)