Tricity: Vacancy Rate Lowest In More Than A Decade

Tricity Office Market Is Booming
Tricity Office Market Is Booming
In 2018, the vacancy rate recorded in Gdynia, Gdańsk, and Sopot amounted to 6.1%. This is the lowest rate in more than a decade.

The office resources of the whole Tricity agglomeration amounted to 775 000 sqm, which places the city on the 3rd place among regional markets. According to the experts of Colliers International, Tricity market is neutral. The maintained low vacancy rate can change the situation of owners as the current demand and the activity of developers are definitely at a much higher level. Additionally, the rate can gradually increase with the commissioning of other projects.


Last year, 77 000 sqm of innovative office space was commissioned in Tricity. The demand for office space in Tricity, however, decreased by 25% in 2018 and amounted to 84 000 sqm. High dynamics of the local market may be proven by a great number of new contracts and relocations.


Taking into account such factors as high life quality, good location, or access to qualified personnel, Tricity is an attractive location to both new companies and existing tenants. In 2018, due to the activity of tenants from certain industries, dominant companies were those from the IT and telecommunication sectors (39%), whereas the second place was occupied by the commercial sector (14%), and third – by the financial industry (12%).


The majority of office areas is located in Gdańsk (75%), Gdynia (21%), and Sopot (4%). The activity of developers and high demand for new office space in the upcoming years are to maintain at a very high level. There is also a record-breaking number of office space under construction, and, apart from local developers, international enterprises also plan to execute their investments soon. 


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