Total supply in the nine major markets in Poland at the end of H1 2017 reached almost 9.3 million sqm. Over the first six months, developers completed 300,000 sqm. of office space, with more than 130,000 sqm. being completed in the capital Warsaw. Krakow was the regional city with the highest growth (80,900 sqm.).
In Warsaw for H1 2017, sixteen new buildings were delivered to the market with total leasable area of 131,000 sqm. Within the first six months, the volume of transactions in the nine major markets amounted to 723,000 sqm. Total leasing activity recorded 15% growth compared to the corresponding period of the previous year. Warsaw reached the record amount of leasing space – 391,000 sqm. – which is the highest half-year number in history! A significant proportion were made up of agreements signed in Krakow (30% of the total volume) and Wroclaw (28% of the total volume).
Base rates remained unchanged. Office space in Warsaw was offered from EUR 12.00 to EUR 22.00/sqm. per month, while in regional cities from EUR 10.00 to EUR 16.50/sqm. per month.
There is 1.7 million sqm. of new office space currently under construction, with Warsaw accounting for over 720,000 sqm. The situation on the office market is favourable for tenants. Developers are offering very interesting projects and large incentive packages.
If you are planning to invest in Poland why not contact getsix®, to find out more information please visit www.getsix.eu