PORF publishes latest Warsaw office market data
23:37
The total modern office stock in Warsaw amounted to 5.045 million sqm at the end of last year, according to the latest report by the Polish Office Research Forum (PORF). In 2016, the office market in the city grew by a combined 407,000 sqm in 21 projects, the largest of which included Warsaw Spire A (59,100 sqm), two buildings in Gdański Business Center II (49,000 sqm) and Q22 (46,400 sqm). At the end of Q4, there was 718,800 sqm of office space available for immediate lease (14.2 percent of the total stock). The vacancy rates in central in non-central locations stood at 17.3 percent and 12.9 percent respectively. The take-up levels in the October-December period and in the whole year 2016 reached 222,400 sqm and 754,900 sqm respectively, with new leases having accounted for 60 percent of the latter figure. The PORF comprises six major real estate services firms – CBRE, Colliers International, Cushman & Wakefield, JLL, Knight Frank and Savills – and publishes standardized office market data.
