Still not enough offices in Warsaw

Warsaw office market is far from saturated. The vacancy rate is the lowest since 2012, Knight Frank agency revealed. People choosing prestigious office buildings for headquarters of their companies are not deterred even by the increase in rental rates. The total office space in the capital of Poland amounted to 5.5 million sqm at the end of the first half of 2019. Yet, in the first half of 2019, only 80,000 sqm of office space was created in Warsaw (compared to 174,000 sqm of space created during the same period of the previous year ).
According to Knight Frank's analysis, the relatively small supply of new offices in the first half of the year does not mean less developers’ activities.
“The largest investments are still being made. Assuming that the developers manage to meet the deadline, by the end of 2019 more than 160,000 sqm of space will be available in the office market. The following year, the number is predicted to grow to up to 400,000 sqm,” analysts predict.
The three largest office buildings currently built in Warsaw are located in Wola and Śródmieście. These are Varso Place (114,000 sqm), The Warsaw Hub (76,000 sqm) and the Mint Legacy Tower (66,000 sqm).
(Rzeczpospolita)