14:29 21 January 2023
PINK releases data on office market in Warsaw for Q4 2022
PINK has published figures on the office market in Warsaw for the fourth quarter of 2022. At the end of December 2022, the total modern office stock in Warsaw accounted for almost 6,269,000 sqm.
In the fourth quarter of 2022, only 8,700 sqm of modern office space was delivered to the capital city market in one project DPD HQ located in the Jerozolimskie Corridor. In total, almost 237,000 sqm of office space has been delivered to the office market in Warsaw since the beginning of 2022.
At the end of the fourth quarter of 2022, the vacancy rate in Warsaw reached 11.6 percent (down 0.55 pp. compared to the previous quarter and decrease by 1.1 pp. in relation to the comparable period in 2021). Availability of office space equaled 726,400 sqm. In central zones, the vacancy rate dropped to 10.5 percent, while outside the city center, it reached 12.4 percent.
Throughout 2022, demand for modern office space reached over 860,000 sqm, including over 253,000 sqm in the fourth quarter of 2022. The most popular areas of tenant’s interest were the City Centre, CBD, and Mokotów zones.
The largest transactions of the fourth quarter of 2022 were: a new agreement of almost 14,000 sqm by Lionbridge in Konstruktorska Business Center, 8,700 sqm renegotiation signed by Budimex in Wola Retro, and renewal of a lease contract for 8,400 sqm by Roche in Graffit.
(WBJ)
