Office stock in Poznań increases by 11% in Q1

by   CIJ News iDesk II
2020-05-22   10:18
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Poznań’s office market is nearing a supply-demand balance, according to Cresa. Office stock increased by 11 percent, amounting to 580,100 sqm at the end of March. The average annual growth rate for this market between 2012 and 2020 was at 11 percent. In the first quarter of 2020, the Giant Office building (15,300 sqm) was delivered. The two remaining buildings of the Pixel complex by Garvest Real Estate are still in the pipeline. By the end of the first quarter, the ratio of vacancies to total stock was at 12.9 percent, a 2.9 percent decrease compared to the same period last year, according to Cresa. The biggest vacancy rate was in non-central locations.