The Polish office space market in 2017 was record-breaking in terms of sales
The Polish office space market grew in 2017 by over 736 thousand m2 - this information was provided by a consulting company. As the director of development assessed for PAP rated, last year was a record in terms of growing supply and demand.
Office space market in Warsaw
At the end of December 2017, the resources of modern office space raised to be 9.7 million m2, which nearly 4.4 million m2 was outside of Warsaw. The increase in demand for office space was influenced by dynamic employment growth, generated, by companies from the business services sector.
According to the expert, "the Polish office space market has been developing very dynamically for several years and it can be considered as mature in its current state, because there is a growing stratification between modern supply and facility upgrade." He added that "the reason to this is, undoubtedly, there is more investment business developed".
Last year was a record because of increasing supply and demand. "In the last two years, the supply of office space has increased by over 25% comparing to 2015 "- the expert noticed.
Warsaw office space market - the new trends in office space design are worth some attention; they are characterized by exceptional care for the productivity of employees, which directly translates into the financial results of companies.
"Poland is very popular among investors from Central and Eastern Europe and thanks to them the investment activity in our country has increased by over 5%." - said the expert. "We can still expect a high level of development activity in next years"
"Nearly 2 million m2 of space is currently under construction, 1.1 million m2 are markets outside of Warsaw"
According to the consulting company information, the last quarter of last year has brought a drop in the empty buildings rate to 9.9% for all major regional markets outside of Warsaw. In the capital, it is 11.7%. "Overall, the level of vacant space for Poland is at the level of 10.8%."
In May 2017, the highest vacancy rate was in Katowice (14.6%), Warsaw (14%) and Szczecin (13.9%), and the lowest was recorded in Łódź (5.8%) and Kraków (6.8 %).
