Warsaw’s office market grows by 84,200 sqm in Q1 – C&W

A total of 84,200 sqm of office space in ten buildings (over 28,800 sqm more than in Q1 2016) was completed in Warsaw in the first quarter of this year, which brought the combined office stock in the city to 5.12 million sqm, according to a recent report by Cushman & Wakefield. New office space supply in the Polish capital is now expected to remain at a high level in the coming years with the average annual volume for 2017-2019 estimated at around 300,000 sqm, the study said. Office demand in Q1 increased by 37 percent y/y, to 194,000 sqm. According to Cushman & Wakefield experts, the total lease transaction volume in Warsaw will exceed 750,000 sqm this year.