We are pleased to present a short up-date of the office market situation in Warsaw after H1 2016.
• H1 2016 saw a record-breaking level of new completions of 350 000 sq m.
• Construction activity remains substantial with 525 000 sq m under construction
• After an outstanding 2015, Warsaw office leasing market held firm in H1 2016 with 360 000 sq m transacted
• Q2, as forecasted, saw a further uptick in the vacancy rate as a result of extensive supply coming to the market. The rate stood at 15.4%.
• Prime rents were unchanged over the course of H1. Currently, prime headline rents in Warsaw City Centre range between €21 and €23.5 / sq m / month. Non-Central locations lease at €11 to €18 / sq m / month.
