The first quarter of the year was another very demanding time for the regional office markets. They have been confronted with exactly the same challenges as the Warsaw’s office market – increasing maintenance costs, higher rents’ perspective, more expensive and longer fit-outs as well as delayed construction processes. The future boon may be the emigration of Russian specialists from high-skilled technology industries, including IT, who fill in the talent pool in the regional cities, which are hubs for the IT Products and Services sector.
After receiving the results of the first quarter, we can see that the companies started to revert more boldly to office spaces leasing transactions. A desire to secure a contract immediately might have been a priority. In particular, since the risks related to further increases in construction costs and therefore rents, as well as delays in project implementation, are being seriously taken into consideration
comments Michał Baranowski, Consultant from the Office Agency, BNP Paribas Real Estate Poland.
Construction in regions may occur delays caused not only by disrupted supply chains and the unavailability of production materials, but also by a gradual outflow of workers from Ukraine, who represent a significant percentage of workers in the construction or TSL sectors. An increase in demand with a modest portfolio of projects under construction in some cities may quite quickly result in a supply gap
emphasizes Klaudia Okoń, a Business Intelligence Hub Consultant, BNP Paribas Real Estate Poland.