Poland Office pre-leases make a comeback in Warsaw

Office take-up, previously dominated by renewals, saw a notable increase in pre-lets which accounted for 22 pct of the total leasing volume. Meanwhile, Warsaw’s vacancy rate continued its downward trend observed since the beginning of the year. Warsaw’s total office stock currently stands at 6.26 mln sqm, with new supply remaining constrained since the Q4 of 2022. Just under 75,000 sqm was delivered in the period January-September 2024, nearly 65 pct of which was completed in the Q1.