Office Market in Poland Q1 2016

Currently, there is approx. 1.5 million sq m of office space under construction throughout Poland. The largest developer activity is in Warsaw, where 662,000 sq m is under construction, followed by Kraków - 284,000 sq m.According to our preliminary forecasts, the Polish office market is likely to grow by 900,000 sq m in 2016. The modern business services sector remains a key office tenant on major Polish regional markets, accounting for approx. 63% of demand registered outside Warsaw in Q1 2016. By the end of Q1 2016, total office stock in Poland reached approx. 8.3 million sq m. 218,000 sq m of new office space was delivered to market (113,000 sq m in Warsaw and 105,000 in other locations) in Q1 2016.