The capital attained 72 000 sqm of new office space spread over 8 buildings in the last quarter of 2017. The result recorded for the past three months made it possible to close last year with new supply at approx. 280 000 sqm and market size estimated at 5.37 million sqm – highlight authors of the AAG Office Warsaw Q4 2017 report at BNP Paribas Real Estate Poland.
We are witnessing fundamental changes within Warsaw's central zone and can see that a new business district is developing in the capital. Within the next 2-3 years there will be new office schemes appearing in the vicinity of Rondo Daszyńskiego, which will include buildings set to permanently change Warsaw's panorama. However, it has to be pointed out that at the time of growth of its office market, the Wola district is also attracting numerous residential schemes accompanied by ground floor retail and service functions. At the moment the district has the highest number of new residential developments in the city. The formerly neglected and rundown part of the city has, unlike Służewiec dominated by the office development monoculture, a sporting chance of being transformed into a modern urban quarter that brings together diverse functions and stays lively and vibrant after the office buildings' working hours
Małgorzata Fibakiewicz, Head of Office Agency, BNP Paribas Real Estate Poland
When looking at the capital's market from the perspective of the vacancy rate only, one could get the impression that there is a lot of room for manoeuvre in terms of finding a suitable office. In reality, however, finding a space of the required standard in excess of 5 000 sqm, which is what large organizations look for most frequently when thinking about expansion or relocation to Warsaw, is now becoming a considerable challenge
Patrycja Dzikowska, Head of Research & Consultancy, Central and Eastern Europe, BNP Paribas Real Estate Poland