Warsaw's office market demonstrated a significant increase in development activity during Q1 2026, with new deliveries vastly outperforming the previous year’s figures.
Data published by the Polish Chamber of Commercial Real Estate (Pink) reveals that total office stock reached 6.27 million sqm by the end of March.
The market saw the completion of two major projects: Studio A by Skanska and Vena by PHN. Furthermore, Powiśle Nieruchomości finalised the renovation of Przemysłowa 26a. These developments contributed a total of 42,900 sqm of new space to the market, a substantial rise from the 5,600 sqm delivered during the same period in 2025.
Despite the influx of space, the vacancy rate remains dynamic, closing the quarter at 9.5%. This represents a slight increase of 0.4 percentage points from the previous quarter, though it remains one percentage point lower than the previous year. Central zones maintain a tighter supply with a 6.5% vacancy rate, compared to 12.2% in peripheral districts.
Total demand reached 133,800 sqm, driven primarily by the City Centre and Służewiec. New leases and pre-leases dominated the market at 51%, while renegotiations accounted for 39% and expansions 9%.
