In the third quarter of the year, the office stock in Warsaw grew by 99,100 sqm, most of which attributed to one of town’s new symbols – the Varso Tower office skyscraper. However, the sector faces a decrease in demand and prepares for unprecedented rent adjustment and the settlement of service charges at new rates. BNP Paribas Real Estate Poland experts also draw attention to the importance of offices in attracting employees across different generations, as well as to the revision of the Labour Code provisions related to remote work.
The supply gap casts its shadow on construction
Strong central zone
Offices in the largest Warsaw office hubs, which are located in the city center and in Mokotów, have been the most popular for many months. Central areas accounted for the record-high 54 % of the total demand.
notes Dorota Mielke, Associate Director from the Office Agency at BNP Paribas Real Estate Poland.
Rents will increase
Next year will be unique in terms of rent and service charge increases. As inflation soars and energy prices increase, we expect rent adjustment unlike anything the office space market has seen post-2000. Office buildings and managers are trying to prepare well for tougher times. They do everything in their power to find energy savings with LED lamps, photovoltaics, current control motion sensors or modern BMS. Paradoxically, offices want and need to fast-track their transition into eco-mode, thereby adapting to ESG standards
says Małgorzata Fibakiewicz, Head of Business Intelligence Hub at BNP Paribas Real Estate Poland.
Today, companies lease offices differently. They are fighting not only for talent, but also for a commitment and loyalty worthy of the times in which we live. They know that an attractive, well-located and well-thought-out workspace could be an important factor in attracting employees. Therefore, we are seeing more and more offices that are genuinely tailor-made. Moreover, they cater to employees across four generations who come to work in a single place.
says Dorota Mielke, Associate Director, Office Agency at BNP Paribas Real Estate Poland.