AXI IMMO SUMMARIZES THE FIRST SIX MONTHS OF
THE POLISH OFFICE MARKET The condition and sentiment of the office market in Warsaw and eight major regional markets (Kraków, Wrocław, Tricity, Poznań, Łódź, Katowice, Lublin and Szczecin) after the first half of 2021 register a visible slowdown in supply and moderate demand.
T
he market situation has been conducive to a rising level of immediately available space over the last few months, which is already over 1.5m sq m and represents around 13% of its total stock. Nevertheless, developers, as well as tenants, remain active. This allows us to look at the coming months with moderate optimism and expect further signs of the predicted boom associated with workers’ return to offices. In the first half of 2021, in the Polish office market, developers delivered 21 projects with a total area of approx. 352,500 sqm (Warsaw - 226 000 sqm in 10 projects, regional markets - 126,500 sqm in 11 projects), which increased the total stock to nearly 12.1m sqm. The undisputed leader is Warsaw (almost 6 100 000 sqm), followed by Kraków (1 599 200 sqm), Wrocław (1 242 600 sqm) and Tricity (924 000 sqm). The most significant projects completed by the end of June 2021 in Warsaw were Warsaw UNIT (57,000 sqm, Ghelamco Poland) and conducted by March - Skyliner (48,500 sqm, Karimpol) and Generation Park Y (44,300 sqm, Skanska). Those office buildings were developed at the Daszyńskiego Roundabout, which took over the title of the largest office district of the capital after Mokotów-Służewiec. In turn, among the largest office buildings delivered during the same period on regional markets were Nowy Rynek D (35,800 sqm, Skanska) in Poznań Palio Office Park A (16,500 sqm, Cavatina) in Gdańsk and Tertium Business 24
Autumn 2021
Park III B (13,400 sqm, Buma) and Equal Business Park D (11,650 sqm, Cavatina) completed in Kraków. “We expect that in the next few months in both Warsaw and the regions the number of new office buildings will stop for some time. On the other hand, some of the
Jakub Potocki, Senior Negotiator, Office Agency, AXI IMMO
The Warsaw Voice
