One million meters square of office in construction

DTZ presents a guide of office market in Poland describing the most important news from its nine major cities.

After the first six months of 2013, Poland has as much as 6,64 million meters square of office space. Over 60 percent of volume goes to Warsaw. Remaining space is located in Cracow, Wrocław, Tricity, Katowice, Łódź, Poznań, Lublin and Szczecin. In the regional markets the ones in Cracow and Wrocław are the most developed. Meanwhile, though their position is still weaker, Lublin and Szczecin are becoming more and more important.

Currently under construction is one million meters square of office space. It will cause a strong demand in the next two years and may have a direct influence on the increase in the level of vacancies.

According to Kamila Wykrota, Head of Counselling and Analysis Department in DTZ, situation on office space market is stable. On some markets one can notice an increase in activity of leaseholders and developers in relation to previous years. Office market in Poland is thriving and the amount of new locations grows rapidly. As a result, in the next few years the competition on this market will grow stronger, which will force the buildings' owners to search for new solutions making their projects more attractive and will help in order to maintain or increase their value. It concerns not only the newly constructed buildings, but also those put into operation before the year 2000. Those should be modernized to meet the requirements of current leaseholders - tells us Kamila Wykrota.

Polish real estate market approaches a new phase of conjectural cycle in which the position of leaseholder strengthens and he needs to prepare a product and and offer as attractive as possible in a very competitive environment, points out Barbara Przesmycka, Head of Office Space Department in DTZ. What is the leaseholder looking for? He is turning his attention to location, surroundings, good infrastructure along with innovative and effective methods of office space usage. These requirements aim at creating attractive employment conditions, influencing the company's prestige and its image among its partners. A growing number of leaseholders is attracted by 'green' factors, which are in accordance with organization's philosophy, strengthening its positive image among workers and clients - adds Barbara Przesmycka.

Full version of the report available in PDF file below.

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