New supply on Warsaw office market exceeds 500,000 sqm

More than 500,000 sqm of office space has been delivered to the Warsaw market over the last two and a half years, while the vacancy rate has dropped from 14 percent to 8.5 percent, according to Colliers International. There are now 5.5 million sqm of office space in the capital, and the record low vacancy rates suggest high tenant activity. Despite the large amount of space under construction, there is a supply gap on the market. In the past 30 months, only 180,000 sqm of new space was delivered to Warsaw’s central zone. Demand during this period exceeded supply by more than five times, according to Colliers.