Companies have signed more new leases agreements and are keen to use ''flex'' spaces before taking up their target office space. The decreasing activity of developers has helped to stabilise the vacancy rate q-o-q, but its high level poses a challenge for landlords. JLL summarizes the Warsaw office market at the end of Q3 2021.

Nooka Space start-up has announced the launch of the largest network of smart proximity offices in Romania, in Cluj-Napoca. 

Total demand on Budapest’s office market reached 81,500 sqm in Q3 2021, representing a 17% decrease quarter-on-quarter, but a 3% increase year-on-year. New leases overpowered regarding the share of total leasing activity with 60%, reveals fresh data by the Budapest Research Forum.

S Immo will further expand its Hungarian portfolio. The company is planning to develop a 40,000 sqm project on the Váci Road office corridor.

During Q3, the modern office space stock located outside of Warsaw grew by less than 20,000 sqm. Throughout this period, tenants have leased over 113,000 sqm of space, mainly through the signing of new contracts, or by contract renewals. Office employees have slowly been returning to the offices, tenants were waking-up to the new, hybrid reality and owners of office buildings and property managers began to deliberate more and more about rising utility costs. This is what the 3rd quarter snapshot mirrors in the regional office markets, as per the summary prepared by BNP Paribas Real Estate experts.

Insurance company Warta has just moved into the skyscraper, developed by Ghelamco near Daszyńśkiego roundabout in Warsaw.

Młyńska.6 investment in Katowice has just obtained its use permit. The exclusive advisor responsible for the commercialisation of the building is Colliers.   

Real estate consultancy Colliers says it has finished the transformation of its Bucharest-based HQ and is implementing the WELL Health-Safety standard in a bid to keep its employees safe and prepare for the post-pandemic future of work. 

According to “Office Occupier: Office Market in Warsaw”, a report published by Cresa Poland, total leasing volume for the first three quarters of 2021 topped 398,100 sqm, accounting for 51.2% of the annual average for 2015-2020.

The Generation Park Y office building in Warsaw has been awarded the WELL Health-Safety Rating certificate. It is the tenth project of Skanska’s commercial development business unit in CEE region that has been awarded with such a distinction.