Occupier activity across Poland's regional office markets totalled 310,000 sqm in H1 2026, representing a 21% year-on-year decline, according to a new report by AXI IMMO. Despite the overall fall in leasing volume, net take-up rose 13% year on year, accounting for 59% of total demand, with renewals making up the remaining 41%. Lease transactions signed in Q2 2026 were approximately 1.5 times higher than in Q1, though this was insufficient to offset a subdued start to the year. The largest deals included Brown Brothers Harriman's new lease at WITA C in Kraków (13,700 sqm), Enea Group's renewal and expansion at Business Garden Poznań (11,500 sqm), and Adtran's renewal at Tensor Y in Gdynia (6,800 sqm). The IT, manufacturing and business services sectors recorded the highest leasing volumes.
"Although total leasing volume was lower than a year earlier, the regional markets demonstrated their resilience through a clear increase in net take-up. The high share of new leases and expansions confirms that companies continue to expand their operations and seek high-quality office space," said Karolina Słysz, Head of Regional Markets at AXI IMMO.
Total modern office stock across Poland's regional markets stood at 6.76 million sqm at the end of H1 2026, with Kraków, Wrocław and Tricity remaining the most mature markets. New supply has been slowing since 2024: more than 70,000 sqm was delivered in H1 2026, while the development pipeline totalled just under 180,000 sqm, down 22% year on year. Poznań is currently the most active city in terms of development. Total new supply across the regional markets in 2026 is estimated at approximately 120,000 sqm, around three times lower than during the period of intensive growth up to 2024. A growing trend is also emerging towards withdrawing obsolete buildings from the leasing market and repurposing them for residential, hotel or educational use.
The average vacancy rate across regional markets stood at 17.3% at the end of H1 2026, declining slightly both quarter on quarter and year on year. Katowice recorded the highest vacancy at 22.2%, followed by Wrocław at 21.8%, while Szczecin maintained the lowest rate at 8.4%. Asking rents ranged between €8.00 and €19.00 per sqm per month, with the best-performing assets reaching up to €20.00 per sqm per month. "We are seeing increasingly clear polarisation across the regional office markets. Occupiers are focusing on modern, well-located buildings, allowing landlords of the best-performing schemes to maintain, and in some cases increase, rental levels despite relatively high vacancy rates," said Karolina Słysz.
"The coming years will bring further quality-driven selection across the office stock. Limited new development, combined with the withdrawal of office buildings whose sites offer greater potential for alternative uses, such as residential or hotel development, will gradually reduce vacancy levels and support rental growth in the best-performing regional schemes," said Emilia Trofimiuk, Research Manager at AXI IMMO.
