According to Avison Young, at the end of the first half of 2025, Warsaw's modern office stock reached 6.33 million sqm. Three projects were delivered: The Bridge (51,800 sqm), Office House (27,800 sqm), and CD Projekt HQ (5,600 sqm), all contributing to the city’s central zones, which continue to concentrate nearly 90% of new supply.
Total leasing activity reached 301,400 sqm, with City Centre, Służewiec, and the Central Business District (CBD) accounting for 80% of transactions. New leases (including owner-occupier deals) dominated the demand structure, while renegotiations gained importance, making up over 40% of take-up. Despite steady demand, Warsaw's overall vacancy rate edged up to 10.8%, with the highest rates recorded in Służewiec (21.1%) and the lowest in Mokotów (5.4%).
Rent levels in prime central locations ranged between €22.00 and €28.00 per sqm per month, exceeding €30 for top floors. A shift toward a landlord-favourable market has led to reduced tenant incentives and longer lease terms, with seven-year agreements becoming the standard. Average service charges rose by 3% quarter-on-quarter, reaching PLN 28 per sqm per month.
On the investment side, Warsaw recorded €216 million in transactions across 10 deals during H1 2025. The most significant was Uniqa Real Estate’s acquisition of Wronia 31. In total, Polish office assets attracted €411 million, representing 24% of overall investment volume in Poland, with Warsaw accounting for 44% of this share. Looking ahead, further increases in service charges and a shortage of large office modules over 5,000 sqm are expected.
