Global real estate services firm Cushman & Wakefield has published another summary report on the largest office markets in Poland. Regional city office supply for the first three quarters of 2022 came to 332,000 sq m, up by 125% over the same time in 2021. Below are other key findings of the report.
Economy performance
Both the weaker economic growth and steadily rising living and business costs are an indication that the Polish economy is beginning to slow down, largely due to rising energy costs, supply chain issues and the worsening consequences of Russia’s invasion of Ukraine,
says Katarzyna Lipka, Head of Consulting & Research, Cushman & Wakefield.
Regional cities see office supply improve
And development pipeline shrink
Warsaw’s total new office supply in 2022 is expected to hit close to 240,000 sq m, 10% below the five-year average. With the development activity remaining subdued, the Warsaw market is likely to experience a major supply gap in 2023-2025. In 2022, regional cities are expected to see 427,000 sq m come on stream - close to the five-year average - but from 2023 onwards they are also likely to see lower supply levels,
says Vitalii Arkhypenko, Consultant, Consulting & Research, Cushman & Wakefield.
Occupier activity remains strong
Office rents remain on an upward trajectory
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in 400 offices and 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com