PINK publishes the latest data on the office market in Warsaw

At the end of March 2023, the resources of modern office space in Warsaw amounted to 6,256,300 sqm. At the end of the first quarter of 2023, the vacancy rate in Warsaw reached 11.6 percent (a stable level compared to the previous quarter and a decrease of 0.6 pp. compared to the same period in 2022). The availability of office space was 724,600 sqm. In the central zones, the vacancy rate dropped to 10.2 percent, while outside the city center, it reached 12.7 percent.

In the first three months of the year, new leases (including pre-leases) accounted for the highest share in the demand structure, at 70 percent. Renegotiations of existing contracts accounted for 23 percent, while expansions accounted for only 5 percent of the registered demand.

The biggest transactions in the first quarter of 2023 were the renegotiation of Accenture's lease agreement for 8,800 sqm in Proximo II, the lease of 8,700 sqm for DPD's new headquarters, and a new lease agreement for 7,000 sqm made by confidential tenant from the business services sector in the P180 building.

(WBJ)