In the first half of 2022, office take-up in Warsaw hit a record high of 479,400 sqm, representing a year-on-year increase of 94%. Savills forecasts that the growing undersupply of office space will drive rental growth going forward, further accelerated by shrinking availability and significant increases in construction costs and office property management fees.

Savills has been appointed as sole letting agent for office space in CUBE Office Park in Gdańsk and Górki 7 in Poznań, both managed by TFG Asset Management.

Investment into the European logistics real estate market remained strong in Q1 2022 and experienced a y-o-y growth of 19.6%. The growth of 28% above the five years average has experienced the leased warehouse space. The biggest change occupiers anticipate as a result of the pandemic is the shortening, or reshoring, of supply chains to mitigate risk. Also, the war in Ukraine and China´s lockdowns has driven the demand to record levels, indicates Savills in their last European Logistics Outlook published today.

Savills has opened an office in Tricity led by Piotr Skuza. The Savills Gdańsk office will deliver advisory services to tenants, investors and landlords of office, retail, industrial and warehouse properties and the PRS sector. Savills experts will provide assistance in office and warehouse lease transactions, property and land acquisition, as well as technical advisory and property management.

New office supply in regional cities in Poland hit a record high of 243,500 sqm in Q1 2022, representing an uplift of 5% on the previous peak in Q4 2019, reveals Savills. More new office space was delivered in the first three months of this year alone than in the whole of 2021.

As part of its 2022 Savills "Impacts" research programme, the global logistics sector has the wind behind it for the foreseeable future, with the main drivers being ecommerce, and the race for additional warehouse space to secure international company supply chains.

Chicago, Houston, New York, San Francisco and Warsaw have over 40% of their total office stock certified ‘green’, making their office markets some of the most environmentally sustainable in the world, according to Savills World Research. But in many major cities there is a significant disconnect between city governments’ ambitious net-zero targets and the green credentials of existing stock.

According to Savills latest research, over 5.7 million sqm of new office space will be completed in Europe in 2022, of which 49% is currently pre-let. In Warsaw, Savills forecasts that a rebound in demand and an undersupply of new office stock will translate into visibly shrinking availability.

Kuehne+Nagel Global Services has leased 9,000 square meters at the Airport City Belgrade Business Park, in a transaction brokered by the consulting company Coreside Savills.

The Warsaw office market is showing signs of a long-awaited recovery, says real estate advisory firm Savills. Office take-up hit 273,200 sqm in the first three months of the year, which were one the best-performing quarters in the history of the capital. Savills forecasts that with office availability continuously shrinking in the city centre, the market is set for further rental growth next year.