Research
Warsaw Office Market Dynamics, Q3 2024
Summary and analysis of Warsaw's current office real estate market conditions.
November 06, 2024
Contributors:
- Mateusz Polkowski
- Ewa Grudzień
- Piotr Kamiński
Over 130,000 sq.m. was leased in Q3, 30% of which were pre-let agreements. Such a result is more of an exception rather than a new trend emerging in the capital's market. YTD take-up accounted for 284,000 sq.m.
Approx. 11,000 sq.m. was delivered during the quarter in two properties. Both office buildings were located outside the central zones. Development activity remained stable q/q and stood at approx. 260,000 sq.m. The commencement of construction still depends on securing a key tenant.
The vacancy rate recorded a marginal decrease of 0.2 p.p. q/q to 10.7%. The vacancy in the city centre was at 8.9%, while outside the central area, it stood at 12.2%.
