16:42 18 April 2026
Warsaw on verge of office supply gap
Technology firms are driving office demand in Warsaw, but new supply is shrinking, increasing pressure on rents. In Q1 2026, leasing reached 134,000 sqm, while only 42,900 sqm was delivered and nearly 24,000 sqm withdrawn. Development activity hit its lowest level since 2011, with projects under construction down about 40% q/q and 52% y/y. Vacancy stood at 9.5% and may fall to around 8% by year-end, with modern offices in central areas nearly unavailable. IT companies led demand with 20% share.
Prime rents exceed EUR 29 per sqm monthly and may reach EUR 30, driven by limited supply and rising costs, while fit-out expenses have increased significantly.
(pb.pl)
