Consulting company Walter Herz summed up 2019 on the office real estate market. The report includes information that Warsaw with the resources of 5.6 million sqm of space remains an unsurpassed office leader in Poland. The capital agglomeration has facilities comparable in size to the total offer in the six largest regional cities in the country. Warsaw offices are primarily located in three districts: Mokotów, Śródmieście and Wola. They include about 75 percent of the space available in the city. Over a quarter of the resources are situated in the largest office buildings, exceeding 30,000 sqm.
However, 2019 was not successful for several Warsaw investments, the opening of which has been postponed to this year. Hence, office resources in Warsaw increased last year only by about 165,000 sqm of space, which is the lowest result in years.
“The structure of supply in Warsaw, however, is changing dynamically, as several large-scale projects are being implemented in the agglomeration, mostly in the central area of the city. They are to enter the market this year and the next. Developers' activity is now concentrating mainly in Wola, especially around the Daszyńskiego roundabout, with the largest amount of construction sites. Over 750,000 sqm of space is currently under construction in Warsaw. And if it wasn’t for COVID-19, this year's new supply could have reached a record high in the capital,” Krzysztof Foks, Analyst at Walter Herz, claimed.