Poland Warsaw office market stable
Office & mixed-use developmentschedule 30 October 2024
Ewa Derlatka-Chilewicz, head of Research Poland, Cushman & Wakefield
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Cushman & Wakefield has summarised the situation on the Warsaw office market for Q3 2024. Office take-up, both in leasing volumes and transaction numbers, was comparable to that recorded in the same period in 2023. Meanwhile, muted development activity, falling vacancy rates and shrinking land availability are likely to encourage investors to launch redevelopment projects.
Development activity is likely to remain subdued until 2026
At the end of Q3 2024, Warsaw’s total office stock stood at 6.26 mln sqm. Office projects delivered in the three months to September 2024 included Viridis B (Polkomtel, 7,000 sqm) and Bohema Office D and E (2,600 sqm and 1,700 sqm respectively).
There are currently seven projects under construction, totalling 207,000 sqm and scheduled for delivery in the coming years. This volume is well below the average supply levels recorde
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