Offices straining to meet the demand

Although it can certainly be said that the Warsaw office supply in 2019 failed to keep up with the demand, it should also be noted that there was a clear disparity between the City Centre zone and those outside it. While the vacancy in the city centre dropped to only 5.3 pct, other areas had an average of 9.4 pct. The situation outside the city centre was mainly impacted by the high level of supply and the still high vacancy rate of 13.4 pct in Mokotów district. This was particularly noticeable in buildings older than ten years, which saw vacancy rise to 25 pct and tenant interest flagging. “Buildings that have been in operation for a number years have now started to lose tenants, as they now move to new, beautiful, mainly high-rise buildings. The older buildings are in need of considerable refurbishment and modernisation, so their owners will have to take action if they want to retain tenants and attract new ones to fill their current vacancy,” advises Małgorzata Fibakie