Warsaw up in office cost ranking

Warsaw came in 60th in the latest ranking of the most expensive office locations carried out by advisory CBRE, with occupancy cost at €35.56 per sqm per month. “Despite rent decline in Warsaw seen over the past few quarters, Poland’s capital has improved its position in the ranking by 3 points, mainly because other cities experienced an even stronger decline recently,” said Konrad Heidinger, CBRE’s market research consultant. “We are seeing an increasing polarization in prime office markets. The best locations are increasingly expensive, while a lot of cities ranked lower have recorded drops,” he added. Due to strong supply pipeline, Warsaw could see further rent decrease. However, demand for Warsaw offices remains strong. London’s West End remains the world’s most expensive prime office location, followed by Hong Kong’s center, Beijing’s financial district and Beijing’s city center and Moscow. CBRE’s report, titled “Global Prime Office Occupancy Cost” listed 126 cities across the world.