w korytarzu Puławskiej).
The construction boom on the office market observed for several years has slowed down during the pandemic. Q1 saw some conservative activity on the part of both tenants and developers. The last re-examined their decisions to commence new projects and are considering the option to possibly push back their start even further: there were no new office projects commenced in the capital between January and the end of March 2021. The volume of office space under construction is currently at its lowest in a decade: 430,000 sqm, approx. half of which is expected to be delivered to the market by the end of this year. Tenants, on the other hand, closely watched the market and the situation in their own organizations, with the option of implementing the hybrid work model being the hot topics under discussion. Businesses make individual decisions based on their in-depth analyses of the current and future condition of the organization. Today, this work is bearing fruit and we are seeing more and more concrete solutions proposed by tenants and resultant decisions as to the future of their own office space
Mikołaj Laskowski, Head of Office Agency, BNP Paribas Real Estate Poland
Office space absorption in Q1 2021 decreased by more than 60% as compared to the previous quarter, and it now stands at 22,600 sqm, confirming the strong position of the Warsaw market. At the same time, Warsaw is seeing a slowdown as regards the number of sublease offers on the market, which currently stand at approx. 120,000 sqm
Klaudia Okoń, Consultant, BNP Paribas Real Estate Poland
This year will be all about employees returning to the office. The office industry faces the challenge of resuming work in office spaces. The accepted reality of the past 25 years, i.e. working in the office, is now gaining a new dimension. The hybrid work model, as proposed by numerous organizations, will make it possible to spread out existing workstations in offices. Consequently, employees will be provided with more room to work comfortably in a quiet environment that meets the requirements of their jobs and tasks at hand, while at the same time giving them the assurance that a safe distance between the individual workstations is kept. Furthermore, offices will promote teamwork and creative collaborations, as well as the informal interactions between employees which are so sorely missed by everyone at the moment.
Agnieszka Żygieło, Senior Consultant, BNP Paribas Real Estate Poland