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Kraków office market

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At the end of 2013 the office stock in Krakow amounted to ca. 624,000 sqm, which was the highest result among regional cities in Poland.

Only 32,300 sq m of new office space was delivered in 2013.

Development activity is increasing, ca. 123,000 sq m of offices is under construction, of which 86,500 sq m is scheduled for this year.

The average vacancy rate in Krakow is the lowest among major regional cities in Poland and at the end of 2013 was 4.8%.

Demand for office space in Krakow remains strong, the volume of lettings exceeded 90,000 sq m in 2013, of which ca. 40% were pre-lets.

Limited availability of office space in existing buildings resulted in a relatively low net absorption, significantly below its long-term average.

Prime office rents are €14.00-15.00 per sq m/month and may increase in 2014.

Source : Savills