PINK has published figures on office market in eight major regional markets in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Szczecin, Lublin) for Q1 2020.
The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers International, Cresa, Cushman&Wakefield, JLL, Knight Frank, Savills) and includes information on modern office stock, new completions, take-up volumes and vacancy rates.
- At the end of Q1 2020 total modern office stock in eight regional cities amounted to 5,504,000 sq m. The largest regional office markets are Kraków (1,455,300 sq m), Wrocław (1,186,100 sq m) and the Tri-City (838,600 sq m).
- In Q1 2020, almost 79,800 sq m of office space was completed, mostly in Kraków (36,600 sq m) and Katowice (19,600 sq m).
- In eight major regional markets almost 517,900 sq m remained vacant, resulting in a vacancy rate of 9.4% (0.18 pp q./q. decrease). The highest vacancy rate was recorded in Poznań - 12.9%, the lowest in Tricity - 4.1%.
- Total leasing activity volume in the first quarter of 2020 amounted to 220,300 sq m, which is 24% more than in the previous quarter and even 70% more than in the same quarter last year. Most space was leased in Kraków (62,100 sqm).
- The largest transactions executed in the first quarter of 2020 include a pre-lease transaction of Fujitsu Technology Solutions in the Fuzja building in Łódź (16,300 sqm), a confidential client transaction in Tertium Business Park in Kraków (14,500 sqm) and a new confidential client agreement in Alchemia Neon in Gdańsk (12,100 sqm).
Kraków | Wrocław | TriCity | Katowice | Poznań | Łódź | Szczecin | Lublin | |
Stock | 1455300 | 1 186100 | 838600 | 548000 | 580100 | 528300 | 180800 | 187000 |
Vacancy | 145 500 | 140 400 | 34 200 | 34 200 | 74 800 | 60 000 | 14 700 | 14 000 |
Completions | 36 600 | 8 300 | 0 | 19 600 | 15 300 | 0 | 0 | 0 |
Take-up | 62 100 | 47 900 | 33 100 | 20 400 | 13 000 | 37 700 | 1 400 | 4 700 |
