Warsaw’s office market vacancy rate has risen again in the first quarter of 2016 the year, according to most recent figures from Polish Office Research Forum, to 14.1 percent. It’s a 1.1 percent increase year-on-year and a 1.8-percent jump from the end of 2015, according to the report. These recent figures are being driven by Warsaw’s growing office supply, which surpassed 4.751m sqm during the first three months of the year, with 113,000 sqm of space having been added to the market. Nearly 60 percent of this new supply is located outside Warsaw’s CBD.
At the same time, leasing activity hit 142,200 sqm of space in Q1 2016, with Warsaw’s CBD seen as most attractive for Warsaw tenants, as 32,800 sqm was leased.
