The office market returns to a stable rate

After the challenging 2020, the results of the Office Agency Department at Colliers in the first half of 2021 show that tenants' activity in the office market is returning. From January to the end of June, Colliers experts from the Tenant and Owner Representation departments advised in a total of 67 lease transactions of almost 100,000 sqm. For comparison, in the first half of last year, the department's result reached 87,700 sqm, while in the whole of 2020 – 218,500 sqm.

The largest volume of transactions with the participation of Colliers experts in the first half of 2021. was recorded in Warsaw (56,000 sqm), Wrocław (17,700 sqm), and Kraków (9,600 sqm).

“Only in the first half of 2021, the Owner Representation division finalized as many transactions as in the entire 2020. As a result, we are a leader among agencies both in Warsaw and nationwide. It can be seen, therefore, that the first months of this year were characterized by much greater tenant activity compared to the corresponding period in 2020. This is the result of clarifying the expectations of companies in terms of changing the way they work, the functioning of offices, and the demand for office space. The building owners have also adapted to the current tenants' requirements and show greater negotiation flexibility. We also expect good results in the coming quarters as we are amid many lease processes that will be completed in the coming months," Izabela Kapil, Head of Landlord Representation at Colliers Office Agency, said.

"We see great interest in Poland from BPO / SSC companies, which still decide to open new locations with us – not only in Warsaw but also in regional cities, such as Wrocław, Tri-city, and Łódź," Paweł Skałba, Senior Partner, Head of Office Agency, Colliers, added.

(WBJ)