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900 000 sqm of office space under construction in largest cities in Poland

Equator II, Warsaw.

Jones Lang LaSalle summarised all data and trends in the office property market in Warsaw and the largest Polish cities for the end of Q3 2011. According to data gathered, in Q3 2011, the largest number of offices was developed in the capital – six office buildings with the total area of about 60 000 sqm. The office space stock in other major cities generally did not change – only in Tricity the supply was increased with new 1 550 sqm.

Developers are actively preparing further investments . In Warsaw, around 555 000 sqm of modern office space is being currently developed. Outside the capital 354 000 sqm are being realised. Wroclaw is still the most active market in that field among regional cities.

The demand for office property among tenants is still strong. By the end of Q3 2011, lease transactions for around 440 000 sqm were registered in the capital; outside Warsaw it was around 228 000 sqm. Rents for prime space remained stable in most of office markets in Poland.

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