The first half of 2026 brought a shift in occupier demand in the Kraków office market towards the city centre, according to the "Office Occupier - Office Market in Kraków" report published by Newmark Polska. Although total take-up fell sharply compared with the same period in 2025, leasing activity recovered in the second quarter. The vacancy rate edged up to 19.0% across the city, though it stood at just 10.5% in the Centre.
Total modern office stock in Kraków reached 1,870,000 sqm at the end of June 2026, up 1.9% year-on-year. Completions in the first half totalled 27,300 sqm, all delivered in the Centre, including Fabryczna Office Park B7 (8,400 sqm) and buildings B and C of the WITA complex (approximately 18,900 sqm). Only one further building, Soneta (approximately 8,700 sqm) in the South-West zone, is scheduled for delivery before year-end.
"Substantial office availability in existing buildings, combined with office consolidation and optimisation, continues to weigh on development activity in Kraków. Since 2022, new development has averaged approximately 47,000 sqm per quarter, down from more than 208,000 sqm in 2016-2022. At the end of June, approximately 37,300 sqm was under construction, down more than 44% year-on-year. The launch of new projects will largely depend on securing a major tenant or achieving the required pre-let levels," said Patryk Kowalkowski, Advisor at Newmark Polska.
Office take-up in Kraków surpassed 73,000 sqm in the first half of 2026, down more than 57% from the 172,000 sqm recorded in the same period of 2025. After a quiet first quarter (approximately 15,000 sqm), activity recovered strongly in the second quarter (more than 58,400 sqm). The average lease size fell by less than 7% year-on-year, from 1,400 sqm to 1,300 sqm. "Kraków remained one of the most active regional office markets in Poland, accounting for nearly 24% of total take-up recorded outside Warsaw. The share of renewals fell from nearly 72% to approximately 50%, while new leases rose from approximately 21% to almost 43%. Manufacturers accounted for the largest share of take-up at 31.3%, followed by the financial sector (20.2%), IT (14.9%) and professional services (8.2%)," said Tomasz Chojnacki, Regional Director of the Office Department at Newmark Polska.
The vacancy rate stood at 19.0% at end-June, up 0.6 percentage points quarter-on-quarter and 1.7 percentage points year-on-year, with nearly 356,000 sqm available for immediate occupancy. The highest vacancy rate (33.3%) was recorded in buildings completed between 2005 and 2009, while buildings delivered after 2020 and those in central, well-connected locations posted a vacancy rate of 16%. On rents, Agnieszka Giermakowska, Research and Advisory Director and ESG Lead at Newmark Polska, noted: "Rents stood at €14.00-18.50 per sqm per month in most modern office buildings, reaching €19.00-19.50 in the newest and best-located projects in the Centre. Constrained new supply is likely to gradually strengthen the bargaining position of owners of energy-efficient and well-connected office buildings."
