Warsaw’s office stock exceeded 4.2 million sq m at the end of March 2014.
Ten office buildings of 84,300 sq m were delivered to the market during the first three months of the year.
Over 0.5 million sq m of office space remains vacant.
Vacancy rate of 12.2% is the highest rate recorded in the city in the last ten years.
Approximately 627,000 sq m of office space is under construction Warsaw wide.
Almost 80% of the constructed space is still vacant.
Prime rents stabilised at €22.00 – 23.00 per sq m/month in the Core City Centre and at €14.50 - €15.00 per sq m/month in Mokotow, but the level of rents is expected to be pushed downwards as vacancy increases across Warsaw.
Source : Savills