Warsaw: Largest Demand For Office Space In The History

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Warsaw, pic press materials, Walter Herz
Warsaw, pic press materials, Walter Herz
According to the analyses of the first six months of this year, the demand for office space on regional markets is the same as the supply. Additionally, the demand in Warsaw exceeds the number of vacant offices.

According to the analyses conducted by Walter Herz, the demand for office space in Poland amounted to 700 thousand sq. m in the first six months of this year, over a half of which (almost 440 thousand sq. m) concerns the city of Warsaw. It is a new record of the capital for the largest demand in history.

The number of ready and vacant offices in Warsaw drops, which is confirmed by the lowest vacancy rate in five years. Leasing is also less popular. Thereby, all tenants who plan to expand their business are more frequently forced to conduct contracts concerning offices which are under construction. This type of contracts concerned one-fourth of the contracted space on the Warsaw market in the first six months of 2018 – says Bartłomiej Zagrodnik, Chairman of the Board, Walter Herz. It makes the position of lessors on the Warsaw office market much stronger.

The largest demand among regional markets was recorded in Krakow, that is 1.1 million sq. m of office space. One of the cities with the supply exceeding 1 million sq. m is Wrocław. The amount of total office space in the country amounts to over 10 million sq. m. On average, 10% of them are resources which may be leased. The vacancy rate in Warsaw is estimated at ca. 11% and slightly over 9% in regional cities. The smallest proportion of untenanted space (6.6%) is recorded in Tricity.

 


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