Warsaw office market April 2023

After a full year of Russian aggression in Ukraine, constantly rising energy costs and increasing inflation, 2023 has started off relatively slowly in the capital's office market. Vacancy rates remained stable, and with the new remote working law coming into force, by the end of Q1, companies had to determine which working model they would choose. The rather conservative approach of tenants to leasing office space in the first three months of 2023 was linked both to the aforementioned decision-making process and to the widely discussed new supply gap forecast for the year.