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The Occupier’s Perspective: Banking on Warsaw

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Favourable tenant market – occupiers benefit from:

1. High availability of Grade A office space (720,000 sqm of modern space across Warsaw);

2. Strong speculative development pipeline – at 92% of total volume under construction (which translates into 690,000 sq m);

3. Access to well educated labour pool – 72% of Warsaw citizens have higher education;

4. Low corporate tax at 19%;

5. Prime rents in Warsaw stand at €23/sq m pm – 83% lower than London, 64% lower than Paris, 44% below Frankfurt and 21% below Madrid. Rents are expected to remain stable throughout 2017;

6. Favourable landlord incentives – on average up to 25% off the headline rent;

7. Warsaw is the most affordable city in Europe in which to accommodate staff. Total accommodation costs reach €22,200, a quarter of the cost of London;

8. Ample future development land.

However, occupier conditions vary markedly across the main Warsaw zones. For instance, while there is only 0.5 years of supply left in the City Centre West and 0.75 in Jerozolimskie Corridor, the CBD and Słuzewiec on the other hand offer 120,000 sq m and 200,000 sq m which translate into more than one year of supply

Source : Savills

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