Research
Warsaw Office Market Dynamics, Q4 2024
Summary and analysis of Warsaw's current office real estate market conditions.
February 17, 2025
Contributors:
- Tomasz Czuba
- Mateusz Polkowski
- Ewa Grudzień
Office demand for FY 2024 amounted to approx. 400,000 sq.m., of which over 110,000 sq.m. was transacted in Q4. The highest activity was recorded in the City Centre and CBD zones, due to the relatively higher availability of new office space in these areas.
Throughout 2024, 104,000 sq.m. of office space was delivered. Although this result is better than in 2023, it remains significantly below the volumes over the last 10 years.
At the end of 2024, the vacancy rate for Warsaw stood at 10.6%, which translates to a minimal increase of 20 basis points Y-o-Y . The vacancy in the central zones stood at 8.8%, while outside the centre it reached 12.0%.
