Office space under construction at the beginning of September was 639,000 sqm and was the lowest figure since the beginning of 2022, according to a REDD report. In total, over 2.8 million sqm of office space is available for rent in Poland, in buildings that are available and under construction, but already commercialized.
In January 2022, over 1.2 million sqm was under construction, in April, 875,000 sqm was built, and in August, 700,000 sqm was under construction. As shown by the REDD report, at the beginning of September, 639,000 sqm was under construction. and this is the lowest result since the beginning of 2022, according to the report.
According to REDD analysts, office space resources in Poland amounted to 13.7 million sqm at the beginning of September and increased by 66,400 sqm over the last month. There are over 2.8 million sqm of office space waiting for tenants all over Poland. In completed buildings it is 2.3 million sqm, and in buildings under construction 522,000 sqm of free space is also given.
Data shows that in Warsaw, the so-called the vacancy rate is 11.1%, in Wrocław 17%, in the Tri-City 12.3%, in Katowice 16.4%, in Poznań 11.3%, in Łódź 15.7% and in Kraków 12.6%. Since the beginning of the year, the average vacancy rate has dropped in Wrocław, Kraków, Łódź, Warsaw and the Tri-City, the calculation is continued. Analyzes show that the average office rental time in Poland is 420 days.
“In Q1 we recorded a gradual increase in the number of days when permanent offices are empty. In Q2 this time decreased, but now it is increasing again,” said Krzysztof Foks, head of research at REDD.
The report shows that the fastest lease of offices is in Poznań (362 days), and the longest waiting for tenants in the Tri-City, where the REDD Index is 550 days.
“Our data shows that relatively small modules are rented faster. Due to remote work, many companies are looking for smaller offices,” Foks pointed out.
The report was prepared by the Analysis Department on the basis of updated data in 95% of buildings in Poland.
Source: REDD and ISBnews
Photo: Varso Tower, Warsaw – HB Reavis
