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Offices in Warsaw are doing fine

Good macroeconomic indicators  and Poland's ability to attract international lessees speak for the development of our country's office market.
Good macroeconomic indicators and Poland's ability to attract international lessees speak for the development of our country's office market.
400 000 m2 of office areas is being built, while almost 300 000 m2 is rented out. Experts from PBM Południe Development summarize capital's office area market.

Warsaw's office market is at Europe's forefront in terms of office areas planned for completion by the end of this year. PBM Południe Development's experts, basing on the previously published data, remind that there is 280 000 m2 of new office area to be completed in Warsaw throughout the entire year 2012 . Polish capital's total office area is 3.7 million m2. Cushman & Wakefield calculated that  in the first half of 2012 there have been 11 new buildings completed in Warsaw, offering an area of 110 300 m2. That's almost as much as during the entire year 2011.

There is 400 000 m2 of office area under construction, while by the end of 2014 capital developers shall complete over 630 000 m2 of modern offices. Foremost among the biggest investments are: Warsaw Spire, Gdański Business Centre and Konstruktorska Business Centre.

PBM Południe Development representatives admit the subway construction advancing towards Praga, low rent price and investments' interesting character attract tenants. Inwestycja Kijowska is a complex consisting of a modern building with a curious structure and a renovated historic town house, now with modern office area available.

Warsaw's office property market is growing rapidly. According to CBRE data, throughout the first 6 months of this year agreements for lease of as much as 298 000 m2 have been signed. Stable rent prices probably had an impanct on these results. The best office areas in the city centre can currently be rented for 22 – 27 Eur/m2 per month. In best structures outside of the centre 1 square meter of office area costs 14 – 16 Euro per month.


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