Warsaw Office Market Profile Q1 2016

We are pleased to present a short up-date of the office market situation in Warsaw after Q1 2016.

After the all-time high demand and absorption throughout 2015, the occupier activity over the first three months of 2016 was slightly subdued. The gross take-up was 15% lower than in the corresponding period of 2015, albeit 10% above the 2014 data. The vacancy rate increased by 1.1 pp y-o-y and stands at 14.1%, however, sharp drops in vacancies over the past 12 months were seen in the West, and North districts for example. Office construction continues apace, with approx. 113,000 m2 completed in Q1 alone.