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Regional markets to be bigger than Warsaw

Eurobuild CEE 14 May 2019

POLAND Office stock in the eight largest regional markets of Kraków, Wrocław, Tricity, Łódź, Poznań, Szczecin, Lublin and the Katowice metropolitan area, has grown to over 5 mln sqm, says Colliers International.

This is still 5.3 pct less than the existing stock in Warsaw, but this is also likely to change as currently over 1.2 mln sqm is under construction in regional cities, while 834,000 sqm is being developed in Warsaw.

Notable market events over Q1 included 20,000 sqm building in the Spark office complex in Warsaw’s Wola district, Poznań’s office market grew to over 0.5 mln sqm and Akamai signed a 11,200 sqm lease renewal in the Vinci Office Building in Kraków, the largest lease transaction of the quarter. New agreements dominated the first quarter representing 58 pct of transactions, with renegotiations coming to 33 pct. Expansions and owner-occupier transactions came to 7 pct and 2 pct, respectively. Pre-lease contracts accounted for 66,500 sqm, of which up to 43,100 sqm was leased in regional cities (64.8 pct).

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