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Warsaw's office real estate market 2016 – summary

Q22 in Warsaw (pic Echo Investment)
Q22 in Warsaw (pic Echo Investment)
What was the Warsaw's office real estate market in Q4 2016? We present you the data published by PORF.

Polish Office Research Forum (PORF) published the data which pertains to the Warsaw's office real estate market in Q4 2016. The data was prepared in cooperation with the team of analysts (CBRE, Colliers International, Cushman & Wakefield, JLL, Knight Frank and Savills).


Office real estate market in Warsaw – Q4 2016


  • ca. 5 045 400 sq. m – the total modern office space stock in Warsaw at the end of 2016;
  • ca. 407 000 sq. m of modern office areas were delivered to the capital market in 2016 within 21 office investments. The largest ones include: Warsaw Spire A (59 100 sq. m), two buildings in Gdański Business Center II (49 000 sq. m) and Q22 (46 400 sq. m);
  • 5 designs were commissioned in Q4 2016: Biura Koszyki (13 900 sq. m), The Tides (12 000 sq. m), Poleczki Business Park Madrid (7300 sq. m), Nordkapp (4200 sq. m) and the new registered office of Trumpf Poland (1700 sq. m);
  • 718 800 sq. m – the total amount of office space at the end of December 2016 in Warsaw. It constituted 14.2 per cent of the total resources. The vacancy rate in the capital amounted to 17.3 per cent, whereas outside the city center – 12.9 per cent;
  • 222 400 sq. m – the demand for office space in Warsaw in Q4 2016. The total volume of the registered transactions from the beginning of the year reached 754 900 sq. m. The highest activity was recorded in the following zones: Upper South (155 100 sq. m), South West (151 800 sq. m), City Center-Fringe (137 100 sq. m) and Strict Center (106 400 sq. m);
  • 10 per cent of the registered lease volume constituted expansions. The highest participation in the structure of demand in 2016 pertained to new contracts – 60 per cent (17 per cent of which are pre-let contracts) and renegotiations – 29 per cent;
  • 22 000 sq. m – it is the total space within the largest transaction concluded in 2016, that is the pre-lease contract of BGŻ BNP Paribas in the new headquarters, the building of which is planned at the crossroads of Kasprzaka and Karolkowa Streets. One of the largest transactions are also the contract renewal as well as the expansion of space by Publicis Groupe in Platinium Business Park (13 800 sq. m), the renegotiation of the contract by the client in the health sector in Park Postępu (12 000 sq. m) and the contract renewal as well as the expansion of Google in Warsaw Financial Center (8300 sq. m).


Tags: Warszawa
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