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Warsaw offices

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At the end of 2014 Warsaw’s office stock exceeded 4.4 million sq m located in 450 office buildings of which 25 were completed over the last 12 months.

Ca. 758,000 sq m of office space is under construction in Warsaw of which 78% remain unlet.

Warsaw is still an attractive location for developers which was recently proved by Golub GetHouse coming back with a project in the City Centre and Penta Investments entering Polish market with their first developments in Warsaw.

Average vacancy rate in Warsaw was 13.3% at the end of 2014, reflecting a growth by 160 bps yearon- year.

There was ca. 0.58 million sq m of available office space at the end of 2014 and it is expected to grow further, to ca. 1 million sq m by the end of 2017.

Prime headline rents in the City Centre are at ca. €22.00-23.00 per sq m/month whereas in the area of Mokotow at €14.00 - €15.50 per sq m/ month. Due to rising vacancy, office rents will be under downward pressure in 2015 - 2017.

Source : Savills

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