Demand for Warsaw offices remains at the level we saw during the market boom, despite the fact that many tenants are optimizing their floor space, says Walter Herz.

The office market in Bucharest could start to see a mode generalized increase in rents due to a limited volume of deliveries slated for 2023 and a limited vacancy rate for modern buildings, predict experts of Colliers. 

The Hungarian property company is bolstering its sustainability efforts by entering an agreement with the fast-growing Norwegian Proptech company Varig Technologies.

Demand for office space in Bucharest was flat at 286,100 sqm in 2022 compared to the previous year, while the vacancy rate fell slightly to 12.54%. Demand was driven by the IT sector, which had a share of more than 25% of the office leasing market, according to JLL Romania.

The Hungarian construction firm will offer modern office space after an extensive refurbishment of an educational facility in the downtown of Szeged, an important regional city in Hungary, szeged.hu reports.

According to a report published by Newmark Polska, new office supply reached 237,000 sqm in 2022, bringing Warsaw’s total prime office stock to close to 6.27 million sqm at the end of the year. The gross office take-up hit 860,000 sqm.

PINK has published figures on the office market in Warsaw for Q4 2022. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.

Savills has advised AT Capital Group on the acquisition of the development plot at the junction of Grzybowska and Żelazna streets in Warsaw for the planned 140-metre-high Liberty Tower.

Asset management firm Diófa and the Hungarian branch of Erste Bank have concluded a financing deal for seven years. The refinancing contract is worth €73 million, portfolio.hu reports.

Romanian industrial developer Global Vision has purchased the Nova Building office project in northern Bucharest, with the overall investment in the building set to exceed €12 million.