Strong demand drives occupier activity on Warsaw office market

Strong demand drives occupier activity on Warsaw office market

Published at: 2020-02-12 08:55 | Author: CIJEurope.com
Office take-up hit an all-time high in Warsaw last year with leases amounting to nearly 880,000 sqm, according to Cresa. The 2019 volume was up by nearly 42,000 sqm on the previous peak year of 2015. The market reported a 7-percent increase in total office take-up in the four quarters of 2019 compared to the annual average for 2015-2019. “Notwithstanding healthy supply levels, tenants are being driven by robust demand for new offices to sign pre-lets for office space scheduled for delivery not only in 2020 but in 2021,” said Artur Sutor, partner and head of the office department at Cresa Poland. Warsaw’s office market expanded by 2.3 percent y-o-y to 5.59 million sqm, with 17 new office projects, totaling 162,200 sqm, delivered in 2019. Key completions in the fourth quarter included White Star Real Estate’s EC Powiśle B1 (5,000 sqm) and Golub GetHouse’s Mennica Legacy West (14,900 sqm).

Similar Stories:

Office stock in Katowice hits 528,000 sqm in 2019
Katowice’s office stock reached more than 528,000 sqm last year, representing an almost  »
Kraków doubles office stock in four years
Kraków has nearly doubled its office stock over the last four years, becoming the largest  »
The Real Estate Market Through the Eyes of Svoboda & Williams for the Fourth Time
The Svoboda & Williams real estate agency has published its fourth Market Report, whic  »
Panattoni opening offices in Madrid, Barcelona
Following the launch of its office in the Netherlands two months ago, Panattoni is opening  »
Is it a priority for you to strengthen your teams in all areas or do you think it’s bett   »
How was 2018 for you? Have you been able to take full advantage of these strong economic t   »
Why has it taken so long for development of the central western portion of Bucharest to be   »
Where do you see your company going over the next two years? We are staying true to the   »