Regional differences in office market

The office space market in Poland showed notable regional differences in Q3 2024, with a total supply of 14.4 million sq m. Warsaw continues to dominate with over 50% of the market share, but cities like Wrocław, Kraków, and Tricity are seeing growth. Wrocław delivered the most new space (26.6 thousand sq m), while Gdynia completed two buildings totaling 14.5 thousand sq m.

The vacancy rate is stable at 12.86%, with the highest in Łódź (21.4%) and Katowice (16.7%), while Warsaw and Tricity have the lowest rates. Average asking rents rose to €13.84/sq m, with class A buildings nearing €15/sq m. Flexibility in leasing and an increase in coworking spaces are becoming more prevalent as tenant demands evolve.

The market showed signs of recovery, with a slight decrease in time to rent office space.