Experts emphasize that number of leases on the office market continues to grow. A significant increase in supply in the coming years is expected. Good situation prevails in the capital, where the supply and demand are increasing and the rents are stable. Experts also point to the fact that vacancy rates decline in regional markets.
There is a growing number of transactions and the amount of leased space
Cushman & Wakefield has released its report entitled "Marketbeat Poland - Autumn 2012".
- In the capital and most regional markets a positive trend of the previous year prevails - number of transactions and the amount of leased space are growing.As a result of the increasing supply of office projects in the capital, increase in the vacancy rate is expected in the short term In the first half of this year. There was 11 buildings completed in Warsaw, with a total surface of 110 300 sq m, almost as many as in the whole 2011.It is a encouraging fact, that new projects are designed and implemented, despite severe credit policy of the banks. This is possible thanks to the increasingly popular pre-lease agreements - says Paulina Misiak, Partner, Head of Tenant Representation Services, Department of the Office Space of Cushman & Wakefield.
The published report shows that, in Warsaw, there was over 297 750 sq m of office space leased in the first half of 2012.The largest transaction of the half-year was renting 27 000 sq m in currently built office building in Marynarska 12 (Ghelamco) by the PTC (network operator T-Mobile). The developers are building about 400 000 square meters, and by the end of 2014, they intend to commission over 630 000 sq m. Rents in prime locations in the capital are up to 26.50 EUR / sq m / month, and for the best facilities outside the city center they are between 14,00-16,50 EUR / sq m / month. The highest base rents in regional cities are 14,00-16,00 EUR / sq m / month, depending on location. However, on the regional markets, the largest transaction of the first half-year, was the signing of an pre-lease agreement, by Bank BPH, concerning the lease of 18 819 sq m in currently constructed Euro Office Park in Gdansk.Experts point out that in the near future the supply in regions will increase thanks to such objects as: LC Corp Sky Tower (23 954 sq m) in Wroclaw and the various stages of Tri-City Olivia Business Centre (25 146 sq m).