Warsaw's office market is experiencing a supply gap that has deepened since 2023. Only around 28,000 sqm of new office space is expected to be delivered by the end of 2026, making it one of the lowest annual supply figures on record for the capital. Rising construction costs, more expensive financing and greater investor caution continue to restrict new development, with no significant recovery anticipated until 2028. At the end of the first half of 2026, around 130,000 sqm remained under construction, with more than 90% of projects located in central zones.

Kraków's office market recorded lower occupier activity and limited new supply in the first half of 2026, according to AXI IMMO's latest report. Gross take-up totalled 73,000 sqm, a 58% year-on-year decline, while net take-up reached 36,000 sqm, down 27% year on year. Manufacturing companies accounted for the largest share of demand at 31%, followed by the financial sector at 20% and IT companies at 15%. The largest transaction was a new lease signed by Brown Brothers Harriman for 13,700 sqm at WITA C, with Akamai renewing at Vinci Office Centre (5,400 sqm) and PepsiCo renewing and expanding at Brain Park A (5,400 sqm).

Commercial real estate can serve a far more significant purpose than simply providing operational premises. For many manufacturing, logistics and industrial businesses, it has become an integral component of capital structure and a source of growth financing. The sale and leaseback (SLB) model — whereby a company sells a property whilst simultaneously entering into a long-term lease for the same asset — enables occupiers to unlock capital embedded in their real estate whilst maintaining uninterrupted operations, and offers investors access to income-generating assets underpinned by long-term cash flows.

The office is increasingly a source of competitive advantage for employers — no longer simply a company address. According to Bartosz Oleksak, Associate Director, Office Agency at AXI IMMO, location, building quality and workplace design now directly affect employee comfort, team performance and a company's attractiveness to current and prospective talent.

Tatuum has leased approximately 18,500 sqm of warehouse and office space in Łódź. The Polish fashion brand has relocated to Marq Logistics Łódź III located in the eastern part of the city.

The Polish office market is entering a new phase where fit-out costs are rising while move-in-ready space becomes scarce, according to an Axi Immo analysis.

Principal Asset Management has expanded its Polish portfolio with the acquisition of a 16,281 sqm industrial property in Kraków, in a sale-and-leaseback transaction on behalf of Log In, the European logistics and industrial fund managed by Theoreim.

The Łódź region continues to strengthen its position as one of Poland's most important logistics hubs, with tenant demand having reached 1.17 million sqm (+17% y/y) during 2025, marking the second-highest result nationwide, according to a report by Axi Immo.

TVM Group has expanded its warehouse footprint in Poland by 10,000 sqm through larger facilities in the Warsaw region (Pruszków) and Poznań (Gądki), plus a new warehouse in Gdańsk, in lease deals brokered by Axi Immo.

The Kraków office market closed 2025 with high demand and clear polarisation between central and non-central locations, according to a report by Axi Immo.