21:24 28 April 2026
Supply of offices in Warsaw strained
The Warsaw office market is entering its weakest development phase in 30 years, with only 118,000 sqm under construction, a historic low. Despite this, tenant demand remains stable. In Q1 2026, leasing activity reached about 133,800 sqm, down 9% y/y but still consistent with recent years, with 51% of deals being new leases. Total office stock in Warsaw stands at 6.28 million sqm. Vacancy rose slightly to 9.5%, though it continues a longer term downward trend.
Limited new supply, especially in central locations, is pushing rents higher. Smaller and mid sized tenants are the most active, while demand is supported by sectors like IT, finance, and business services.
