The Polish Chamber of Commercial Real Estate (PINK) has published figures on the office market in Warsaw for Q4 2024. At the end of December 2024, total modern office stock in Warsaw accounted for over 6,293,000 sqm.
The data is sourced from advisory companies from the commercial real estate sector (Axi Immo, BNP Paribas Real Estate Poland, CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank, Newmark Polska, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.
In Q4 2024, 29,400 sqm of modern office space was delivered to the capital city market in one new scheme, namely The Form in the City Centre office zone (City Centre-West subzone).
At the end of Q4 2024, the vacancy rate in Warsaw reached 10.6% (0.1 pp. lower compared to the previous quarter and an increase of 0.2 pp. concerning the comparable period in 2023). The total vacant office space amounted to 664,400 sqm. In central zones, the vacancy rate was 8.8%, while outside the central zones, it stood at 12.0%.
In Q4 2024, demand for modern office space reached 244,100 sqm. The most popular areas of tenant’s interest then were City Centre, Central Business District and Służewiec zones.
Between October and December 2024, renegotiations contributed the highest share of the demand structure with 54%, while new agreements accounted for 41%, expansions for 5%.
