Research
Poland Regional Cities Office Market Dynamics, Q3 2024
Summary and analysis of Poland's regional cities current office real estate market conditions.
November 26, 2024
Contributors:
- Karol Patynowski
- Mateusz Polkowski
- Paweł Krzemiński
- Marcin Sulewski
Between Q1 and Q3 2024, transaction volumes in the largest regional cities totalled 509,000 sq.m. and it was on par with the result from previous year. Taking into account the record-setting result in 2023, the two-year average was higher than the pre-pandemic average.
Approximately 76,500 sq.m. of offices was delivered to the market and it was almost 57% less than in the corresponding period in 2023. Developers activity was severely limited – new supply in 2024 will not exceed 110,000 sq.m. and in 2025 it will be only 53,000 sq.m., according to estimates.
The vacancy rate in Q3 2024 was at 17.3% and showed relative stability.
