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Office developments in Warsaw: analysis and trends in late 2024
In the fourth quarter of 2024, Warsaw’s office market continued to experience stable occupier demand amid constrained new supply, with tenants seeking to secure spaces in the city centre and expecting sustainable solutions, reveals “At a Glance: Warsaw Office Market, Q4 2024”, a report from BNP Paribas Real Estate Poland.
Flexibility is key to Warsaw’s offices. And not only Warsaw.
The market closed the year with 325,000 sqm of new modern space, but vacancy rate are increasing, and an escalation in contract renewals is agitating the situation within the demand structure.
Retail on the recovery route
In the past twelve months, retail properties have tried to make up for the challenges faced in the first year of the pandemic.
Regions building at breakneck speed, well over 700,000 sqm are under construction.
Around 715,000 sqm of modern office space was under construction within Poland’s eight largest markets at the end of 2021
A busy end-of-year for investments.
Over €5.7 billion - this is how much investors spent on commercial real estate in Poland throughout 2021, of which in the last quarter alone, the amount attained over €2.2 billion.
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