Polish Chamber of Commercial Real Estate (PINK) has published figures summarizing office market in eight major regional markets in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Lublin, Szczecin) for the fourth quarter of 2021. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark, Savills) and includes information on existing modern office stock, new completions, take-up volumes, and vacancy rates.

At the end of the fourth quarter of 2021, the total modern office stock in the eight major regional markets amounted to 6.039 million sqm. In 2021, 226,300 sqm of office space was completed, mostly in Tri-City (73,200 sqm), Kraków (60,700 sqm), and Poznań (37,500 sqm).

At the end of Q4 2021 in the eight major regional markets, as much as 853,650 s m remained vacant, resulting in a vacancy rate of 14.1 percent. The total volume of leasing activity in 2021 amounted to 594,500 sqm, which is 2.1 percent more than last year.

In the annual take-up, the highest share in transaction volume was attributed to new deals: 49 percent (including pre-lets transactions and owner-occupier deals).

The largest transactions executed in 2021 include lease renegotiation by a confidential tenant from the IT sector in Green Horizon in Łódź for 24,100 sqm, lease renewal and expansion by Rockwell Automation in A4 Business Park III in Wrocław for 19,500 sqm, lease renewal by a confidential tenant from the financial sector in Business Garden Poznań for 17,400 sqm, another lease renewal by a confidential tenant from the financial sector in Kapelanka 42a in Kraków for 15,600 sqm, the renegotiation of 12,800 sqm in the Kazimierz Office Center building in Kraków by a confidential tenant from the business services sector and a pre-let transaction by 3M Service Center EMEA in MidPoint71 in Wrocław (12,300 sqm).

(WBJ)