Third quarter of this year was not so good for the Polish capital

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Among the larger deals is the area leased by Asseco in Wilanów Business Park
Among the larger deals is the area leased by Asseco in Wilanów Business Park
Warsaw. The number of vacancy rates is higher, but the total volume of transactions increased too.

We already know the data on the Warsaw office market for the third quarter of 2012. In its report, Warsaw Research Forum has referred to the situation of the resources of modern office space, new buildings completed, the number and size of transactions and rental vacancy rates. 

Analysts point out that in the third quarter of this year, a portfolio of commercial space in Warsaw increased by more than 56 thousand. square meters, reaching 3.75 million sq m. Investors located their assets primarily in three areas: Obrzeża Centre (outskirts), South East and South West. 
 
According to published data the vacancy rate rose from 7.4 percent. in June to 8.1 percent. Vacancy rate in the central zone also increased from 8.1 percent. to 8,7 percent. and outside the center to 7.8 percent. 
 
Warsaw Research Forum points out that the total volume of lease transactions in the third quarter of 2012 reached 157.6 thousand sq m, an increase of 32 percent compared to the same period in the previous year.However, the demand in this year amounted to 455 300 square meters (compared to 440 000 sq m in the same period of 2011). 
 
Two areas, in particular, of the Warsaw office market in the third quarter of this year attracted considerable interest from tenants, most of the office space was leased in the Upper South zone (45 percent.) and on the  Obrzeża Center (20 percent). 
 
Among the key market transactions, three agreements of pre-lease should be mentioned: 20 400 sq m leased by Asseco in Wilanów Business Park , the Poczta Polska in the project Domaniewska 37C (12 600 sq m) and the General Directorate for National Roads and Motorways in Green Corner (11 700 sq m). 
 
It is worth noting again that the pre-lease agreements are 41 percent of the total volume of transactions (64 500 sq m), which represents an increase of 6 percent. compared to the previous six months. However, the number of renegotiation/renewal of leases decreased by more than 10 percentage points (to 22 percent). 

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