Our clients, tenants of office buildings, follow the government decisions related to the pandemic and social trends. As a result of uncertainty regarding the following months, some of them choose to extend their contracts short-term, rather than making long-term commitments that involve relocation, expansion or the standard extension of the contract for another 5 years.

We are observing an increase in the amount of office space available for sublet. This way, tenants want to optimize costs, and sub-tenants want to avoid the need to sign a long-term lease agreement. Keep in mind that this is a multi-risk solution. The most important thing is that the sub-tenant is not a party to the lease, and therefore bears all the consequences of the tenant's failure to comply with the provisions of the contract.

Monika Sułdecka-Karaś, Partner, Regional Director: Kraków, Katowice, Wrocław

Karolina Wilczak-Łuczyńska, Associate Director, Tenant Representation Office Agency

At the end of June 2020, over 1 million sq m of office space was under construction. In the following quarters, we can expect a systematic delivery of office projects to the market. Projects launched before the pandemic are very active among developers. The vacancy rate shows a slight increase by 0.7 pp. QoQ. reaching 10.24% which may show a certain trend for the future.

Jadwiga Małek, Consultant, Research Market

Three billion euros is an impressive number that could have been even higher had it not been for the pandemic that prevented many deals from being closed. We are currently observing a major revival in the investment market, with logistics leading the way. Investors believe in this sector, and the positive information from the European Commission, which indicates Poland as the country that will go through the "Covid recession" most gently from all over the EU, only supports investment activity.

Krzysztof Cipiur, Director, Capital Markets