Total modern office stock in Warsaw grew to 5,588,500 sqm in the first quarter of this year, according to PINK (Polska Izba Nieruchomości Komercyjnych). The vacancy rate in Warsaw reached 7.5 percent at the end of March (a 0.3-percent decrease q-o-q and 1.6-percent decrease y-o-y), which translated into nearly 418,000 sqm of office space for lease. The vacancy rate in central locations stood at 4.9 percent and reached 9.1 percent in non-central locations. In Q1, gross demand reached 138,900 sqm. The strongest leasing activity was recorded in the city center and Mokotów district, according to PINK.
