According to the report by BNP Paribas Real Estate Poland, at the end of the 1st half of 2018 net office demand, including new leases and expansions of the space occupied so far, reached a record breaking 320 000 sqm.
New supply – limited volume, fast absorption
Warsaw’s office market is on top form at the moment. Interest from tenants in office space is not waning, while demand for office schemes from both domestic and international investors is on the up and the buildings delivered to the market are on average 70% leased a day after their opening
Małgorzata Fibakiewicz, Head of Office Agency, BNP Paribas Real Estate Poland
Planned supply – a significant development of the Centre West sub-zone
Demand exceeds new supply
The city centre, attractive from an office location point of view, is extremely popular amongst tenants. However, Mokotów, with approx. 22% of gross demand, is not giving up its fight for a good position. The zone has significant selection of available space and offices for those businesses for which a central location is not a priority, and thus represents an attractive option for tenants. Additionally, the limited supply of new space across the city may turn into an advantage for Mokotów and Służewiec. Renovations and modernizations of less attractive office buildings will give these areas the opportunity to benefit from the shortage and attract new tenants
Patrycja Dzikowska, Head of Research and Consultancy, Central and Eastern Europe, BNP Paribas Real Estate Poland