Nearly 3.7m sqm of new office space is currently on the Warsaw market, according to the latest report from the Warsaw Research Forum, with 45,000 sqm of it delivered in the second quarter of 2012. The vacancy rate for Warsaw’s office sector is now at 7.4 percent, the report shows, with the rate for central locations hitting 8.2 percent. Most developers are now focusing on areas outside these central locations, according to the data, where the vacancy rate dropped 20 basis points to 7 percent in July. As much as 172,800 sqm of space were leased in the second quarter of the year. That’s a 38 percent increase from the first quarter of 2012.
The biggest deal made on the Warsaw office market in the second quarter of the year was signed by T-Mobile, which took 27,000 sqm of offices in one of Ghelamco’s projects.
