Research

Office Market Landscape - CEE Region in 2024

Overview of the Office Market in the CEE Region - Trends & Outlook

March 07, 2025

Contributors:

Ewa Grudzień
Mateusz Polkowski
Marcin Sulewski

Over 2024, the office stock in the CEE region grew by 325,000 sq.m., with the largest increases recorded in Budapest (103,700 sq.m.) and Warsaw (104,400 sq.m.). The overall vacancy rate in the CEE capitals decreased y-o-y by 70 b.p. to 10.8%.

In 2024, net take-up in six CEE capitals totalled 1.4 million sq.m. Compared to previous year, occupier activity stabilised across the majority of the analysed markets. Lease renewals remained a viable option for many tenants. In 2024, for the second year in a row, they made up nearly 50% of total market activity in the CEE region. Occupier activity is on track for a gradual recovery.

Prime rents continued the upward trend, albeit at different pace. Over 2024, the strongest y-o-y growth, above 10%, was recorded in Bratislava.

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