More lease contracts outside the centre of Warszawa

There has been an increase in demand and supply of modern office space in Warszawa, including the locations outside the city centre, in South West and South East Zones.

In the first half of this year in Warszawa, 333.9 thousand square meters of office space have been rented, which equals to a 12% increase compared to the same period last year. Tenants were most eager to rent offices in Upper South Zone (Mokotów district), where the activity on the rental property market amounted to 33% of available office space. In “Market in Minutes” report, made by experts from Savills company, South West Zone comes second with lease contracts totaling to 83.8 thousand square meters.

The research sums up developers’ activities in Warszawa. During the analyzed period there were about 152.5 thousand square meters of office space commissioned to use. Presented data comes from the last 9 business projects, including one at Plac Bankowy 1and the remaining outside the city centre. We see a stable increase in the activity level on the office property market in Warszawa and we expect that by the end of this year the report will reach 600 000 square meters and will be comparable with the 2012 result which amounted to 608 000 square meters. The result is available thanks to the fact that Warszawa is constantly very popular among tenants and investors from Poland and abroad. When it comes to the new supply, tenants more and more frequently are looking for office space outside the city centre, where there are lower rental rates and developers respond to this demand – says Michał Stępień, Senior Consultant, Research & Consultancy, Savills Poland.

Experts predict that total space commissioned to use by the end of 2015 will amount to 1.1 million square meters.

Tags: Savills
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