Market Insights
Office Market in Poland
Q1 2025
Key indicators Warsaw
Stock
New supply
Space under construction and renovation
Demand
Share of renewals in demand
Vacancy rate
25.0 %
160,500 m2
6.3 million m2
5,600 m2
235,600 m2
10.5 %
A positive signal from the market is the increased activity of tenants.
In Q1 2025, demand for office space in Warsaw increased by 16% y/y, and in regional markets by 27% y/y. It is worth emphasizing that in the structure of transactions signed in the capital, nearly 50% were new agreements.
Map
Selected largest lease transcations in Q1 2025.
Selected projects under construction or renovation in Q1 2025.
General
overview
The total volume of lease transactions on the largest office markets in Poland in Q1 2025 amounted to approximately 337,000 m², which is an increase of 22% compared to the same period in 2024. In Warsaw tenants leased 160,500 m², of which nearly 80% in the CBD, City Center and Służewiec. In regional cities, the highest demand was recorded in Kraków (56,600 m²) and Wrocław (43,800 m²). The nationwide demand was dominated by new contracts, which accounted for 46% of the total lease volume, renegotiations amounted to 37% and expansions and owner-occupier transactions accounted for 9% in each case.
The vacancy rate in Warsaw at the end of Q1 2025 was 10.5% (0.1 p.p. less compared to the previous quarter and 0.5 p.p. less compared to Q1 2024). A large decrease in available space was recorded in central zones - the vacancy rate decreased by 2.2 p.p. y/y and amounted to 7.4%. In non-central zones, the vacancy rate reached 13% (an increase of 0.7 p.p.). In regional markets, the highest vacancy rate was recorded in Łódź - 22.3%, and the lowest in Szczecin - 8.0%
Asking rents remain stable. The rental rates for the most attractive office space in the centre of Warsaw are at the level of EUR 19-28.5/m²/month. In regional markets, rents range between EUR 12-19.5/m²/month.
Colliers Newffice, The Form Source: Colliers
Colliers Newffice, The Form Source: Colliers
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Legal disclaimer
This report has been prepared by Colliers as a professional real estate advisory service provider, having the knowledge, experience and skills necessary to conduct this type of analysis, assisted by the team with relevant education and professional qualifications. Colliers has adopted the data and information available on the market and gathered from reliable sources as the basis for all analyses and calculations performed to prepare the report, taking into account the due diligence and professional nature of Colliers' activities. Colliers has accepted the baseline data collected as correct and in accordance with the facts. Colliers takes no responsibility for the accuracy, reliability or completeness of the documents and information on which the analyses included in the report are based. This document does not constitute and must not be treated as investment or valuation advice or an offer to buy or sell a property. This publication is the copyrighted property of Colliers and/or its licensor(s).
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Poland
Contacts
Dominika Jędrak Director Market Insights +48 666 819 259 dominika.jedrak@colliers.com
Anna Laskowska
Business Analyst Market Insights +48 882 014 433 anna.laskowska@colliers.com
Year-on-year change | Source: Colliers, data for Q1 2025.
Click on the dot to view a list of projects in that location.
Key indicators Regional markets
Stock
6.8 million m2
New supply
2,400 m2
Space under construction and renovation
241,000 m2
Demand
176,900 m2
Share of renewals in demand
48.0 %
Vacancy rate
17.5 %
Market Insights
Office Market in Poland
Q1 2025
A significant drop in new supply was noted in Q1 2025. Developers delivered only 8,000 m² in two projects – the CD Project office building in the East zone in Warsaw (5,600 m²) and Dymka 188 in Poznań (2,400 m²).
Developer’s activity remain low. Currently, approximately 477,000 m² of modern office space is under construction, of which nearly 50% is located in Warsaw. By the end of 2025, 161,600 m² of office space is planned to be completed in the capital, of which 88% is located in central zones. The largest volume of space under construction among regional cities was recorded in Poznań (58,300 m²).
The trend of renovation and reconstruction of office buildings is still very visible on the market. Older buildings are withdrawn from the market in order to modernize them or change their functions, e.g. for residential or hotel purposes. Since the beginning of 2020, approximately 387,000 m² of office space have been withdrawn from the Warsaw office market, including 32,400 m² in Q1 2025.
Year-on-year change | Source: Colliers, data for Q1 2025.
Alchemia IV Neon Confidential Tenant
Tricity Renegotiation 5,000 m2
Gray Office Park A Confidential Tenant
Lublin Renegotiation 5,550 m2
Bokserska Office Center EnterAir
Warsaw Owner-occupied 9,850 m2
DOT Office C Confidential Tenant
Kraków New deal 7,200 m2
Business Garden Wrocław II building K (4) Confidential Tenant
Wrocław Renegotiation 8,400 m2
AND2 Von der Heyden Group
Poznań Planned completion: 2026 36,500 m2
Swobodna SPOT I Echo Investment
Wrocław Planned completion: 2025
16,200 m2
Lublin
Szczecin
Poznań
Łódź
Katowice
Tricity
Wrocław
Kraków
0%
5%
10%
15%
20%
25%
Q1 2025
Q1 2024
Vacancy rate (%) Q1 2024 vs Q1 2025, 9 major cities
Insight from the market
General overview
Warsaw
Colliers Newffice, The Form source: Colliers
Grundmanna Office Park A Sopra Steria Polska
Katowice New deal
4,000 m2
Business Garden Poznań B1 ADM
Poznań Renegotiation and expansion
2,700 m2
Ogrodowa 8 Office Makolab
Łódź Renegotiation
2,300 m2
Palio bud. C Cavatina
Tricity Planned completion: 2025
13,000 m2
ECO CITY 1&2 GPP INVEST
Katowice Planned completion: 2025
17,700 m2
WITA B&C Echo Investment
Kraków Planned completion: 2026
18,900 m2
Związkowa 14 Immobilia Polska
Lublin Year of completion: 2026
6,000 m2
Magazyn Bawełny A&A Holding
Łódź Planned completion" 2027
8,600 m2
Marina Hangar Marina Developer
Szczecin Planned completion: 2025
2,000 m2
The Bridge Ghelamco Group
Warsaw Planned completion: 2025 47,000 m2
Upper One Strabag
Warsaw Planned completion: 2027 32,700 m2
V Tower Cornerstone
Warsaw Planned completion: 2025 32,700 m2
Office House Echo Investment
Warsaw Planned completion: 2025 32,000 m2
Studio A Skanska
Warsaw Planned completion: 2025 25,400 m2
Skyliner II Karimpol
Warsaw Planned completion: 2026 24,000 m2
VENA PHN
Warsaw Planned completion: 2026 14,500 m2
Office Market in Poland
Market
Insights