Warsaw Office Market

H1 2020

The latest market data and comments from Knight Frank's experts.

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What will you find inside?

1

Office market in Warsaw. What was the demand and the supply in the first half of 2020?

2

Major office concentration areas. Total office stock, supply under construction, space available and rents in Warsaw districts.

The office sector in the post-Covid era. A special addition analysing the impact of Covid on the real estate market.

3

Knight Frank experts' comments

It is important to highlight that new leases and expansions accounted for 76% of the total transaction volume in the first half of 2020. This is a signal to the market that the financial condition of companies is stable and that they are not slowing down in the implementation of their business strategies.

Subletting responds to the 'here and now' situation, it is not a long-term solution. Companies identified cost savings in remote working, but this isn't a solution for all industries, so after the stabilization of the economy, part of the companies will look to get their space back to earlier levels.

Despite the pandemic, there has been no major slowdown in the progress of construction projects, although the introduction of several office schemes is still postponed to the following months. Nevertheless, increased developer activity is still being observed, and in Q2 the construction of new office projects began.

- Karol Grejbus

Head of Tenant Representation

- Janusz Garstka

Associate Director, Landlord Tepreentation

- Bożena Garbarczyk

Senior Consultant, Research

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