Research

Regional office markets in Poland January 2021

JLL is pleased to present the latest report analysing regional office markets in Poland.

January 25, 2021

Following the outbreak of the Covid-19 pandemic, 2020 was characterised by volatility and change. Both the community in everyday life, as well as all sectors of the economy, including the office market, had to face a range of challenges. Since March of last year, the majority of employees have been forced to switch to working remotely.

As a result of the cautious attitude from both developers and tenants, a slowdown in the office market was observed. Compared to 2019, demand for office space was only 16% lower in Polish regional markets. However, between the beginning of April and the end of December, this number was as much as 35% lower y-o-y. In addition, the vacancy rate rose by 3.2 p.p. and the volume of office space under construction now stands at a five-year low.

Office space being offered for sublease is currently one of the most visible trends on Poland’s office market. Out of the approx. 150,000 m² available for sublease in major office markets outside Warsaw, 30% is located in Wrocław, followed by Kraków and the Tri-City (with 23% and 22% respectively). Such offers vary from less than 100 m² up to approx. 11,000 m². Therefore, both small and large companies can opt for this solution.

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