Poland April 2020
JLL is pleased to present the latest report analysing regional office markets in Poland.
The COVID-19 outbreak, which emerged in the first quarter of 2020, has made a significant impact on our daily lives as well as the economy. It has affected every sector of the market, including offices. Companies have had to change their strategies and redefine their style of work. Only a small percentage of employees, who work in offices, have continued to work from these locations. The remainder have had to switch to remote working. These changes have brought a technological boost and the pandemic showed which firms were ready for the crisis and provide employees conditions to work outside the office.
In Q1 2020, eight out of the ten largest transactions outside Warsaw were signed by tenants from the IT sector, and the demand generated by all tech-companies represented 57% of the total take-up volume in regional markets. While these processes commenced long before the COVID-19 outbreak, it still bodes well for the regional markets. Furthermore, the global economic downturn may in fact have a positive impact on Poland’s modern business services sector in the future, as firms could well be looking for cost efficiencies by outsourcing parts of their operations.