20:52 21 October 2025
Warsaw office market vacancy rate fell to around 9.7% in Q3
At the end of Q3 2025, the office vacancy rate in Warsaw fell to 9.7%, marking a 1 pp y/y decline, according to AXI IMMO. Demand remained focused on central, modernized buildings, while new supply was limited—about 90,000 m² added so far this year. Total office stock slightly decreased to 6.25 million m², as older, outdated properties were withdrawn or converted to housing, and others underwent modernization.
Rents in prime central locations stayed stable, ranging €19–27.5/m²/month, with moderate growth in newly delivered projects. Tenant activity totaled 490,000 m² leased (–2% y/y). Central areas showed the lowest vacancy (6.9%), compared to 12.1% outside the center. Analysts expect vacancies to keep falling and rents to rise slightly by year-end.
