Warsaw office market February 2023

2022 was supposed to bring a long-awaited stabilisation after over two years of turmoil related to Covid-19. However, the Russian aggression in Ukraine has extended this period of disruption with the markets entering a new phase of uncertainty. Geopolitical tensions, an energy crisis and a change in the policies of central banks have triggered recession fears. Currently, all real estate market players remain extremely cautious in taking strategic decisions, as they consider short-term factors (budgetary constraints, new supply gap, inflationary pressure) and long-term issues (hybrid work, sustainable development).