Wola district in the first place in renting: analysis
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In August 2021, approximately 51,374 sqm space was leased in modern office buildings in Warsaw. More than 58 percent of this space has been leased in Wola, in the immediate vicinity of Rondo Daszyńskiego, according to a published report by REDD.
"As REDD data shows, in an area of less than 0.5 square kilometers, leases have been signed for a total area of more than 29,000 sqm," Piotr Smagała, REDD Managing Director, said.
The rental results in Wola are three times higher than in the next district in the ranking. Lease agreements were registered in Śródmieście for a total area of 8,853 sqm. The following places are occupied by: Mokotów (4,831 sqm), Włochy (3,119 sqm), and Ochota (1,606 sqm).
“The Months of Supply (MoS) is a theoretical ratio of demand to supply that simulates how long it would take to rent all available offices in a given market, taking into account the current resources and the rental rate. The average MoS value for the main markets in Poland is now 18.2 months. The lowest rate within seven months was recorded in Tri-City, while the highest – over two years – was in Katowice. On the other hand, when we move on to the pace of renting offices in the capital, we can see that the hitherto aggressive upward trend in the middle of August slowed down, turning into a strong downward trend. Currently, the REDD Index for Warsaw is 364.2 days," the report reads.
(WBJ)
