According to REDD data, the largest database on the office market in Poland, the rental offer currently covers over 2.52 million sqm of office space throughout the country, which sets a new maximum of this indicator for 2020. The market, however, does not give up, and tenants sign contracts for new space.
"After large and uneven changes during the holiday season, we are seeing a balanced movement of vacancies and new leases in September," Judyta Bartnicka, REDD analyst, said.
In the period August 14-September 14, 2020, most new contracts were signed in Warsaw, where a total of 212 transactions were finalized. Second on the list of leaders is Wrocław with 45 transactions, and third is Katowice, where 33 contracts were signed. Only 12 transactions were finalized in Gdańsk last month, there is also the longest free space waiting for the tenant, as much as 291 days.
The fastest available space is rented in Katowice, where the modules are waiting for a new tenant only for 174 days. In Kraków it is 214 days, in Wrocław 227, in Poznań 268, and in Warsaw 285 days.
“Our analyses show reality as it is, in black and white. The effects of a global pandemic may have long-term and unpredictable effects on the office real estate market. However, careful observation of the numbers can show market representatives where the offices are heading,” Piotr Smagała, REDD Managing Director, said.