{"id":2251,"date":"2023-05-11T18:08:20","date_gmt":"2023-05-11T18:08:20","guid":{"rendered":"https:\/\/ceo.com.pl\/en\/?p=2251"},"modified":"2023-05-11T18:08:20","modified_gmt":"2023-05-11T18:08:20","slug":"office-market-is-drifting-in-calm-waters-57983","status":"publish","type":"post","link":"https:\/\/ceo.com.pl\/en\/office-market-is-drifting-in-calm-waters-57983\/","title":{"rendered":"Office market is drifting in calm waters"},"content":{"rendered":"

Demand in Warsaw is declining, but remains at a good level in the regions. The low activity of developers and the lack of new offices are starting to bother tenants looking for space in the capital.<\/strong><\/p>\n

There is less and less available office space in the center of Warsaw. The vacancy rate at the end of Q1 2023 dropped to around 10 per cent in the central business area of the city, which generated a slight increase in rental rates in prime locations.<\/p>\n

In the first three months of the year, demand remained relatively stable in Warsaw. Nearly 160 thousand sq m. of offices have been leased by tenants, less than in the previous quarter and 40 per cent less than in the corresponding period last year.<\/p>\n

The largest amount of space was contracted in the central business zone, which has been the most popular for a long time. Companies focus on the best spaces. The lease volume in the first months of the year was dominated by new contracts, including pre-let contracts. As a result of the shrinking of the available space in the central area of the agglomeration, as predicted by Walter Herz, we will probably see an increase in the share of renegotiations in lease transactions in the upcoming months.<\/p>\n

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