Our Marketbeat reports offer quarterly updates on commercial real estate, including supply, demand, rents and vacancy. We're excited to share the latest insights into Office Market, highlighting current trends and opportunities.
Key Takeaways – Marketbeat Office Warsaw Q4 2025
At the end of December 2025, Warsaw’s overall vacancy rate stood at 9.1%, down 0.6 pp quarter-on-quarter and 1.5 pp year-on-year. This decline in office availability was driven by relatively strong take -up recorded in both central and non-central zones.
In 2025, leasing activity totalled 794,100 sqm, up around 7% year-on-year. This growth was driven by a record 309,850 sqm transacted in the fourth quarter, marking the highest quarterly volume in Warsaw since records began.
In the fourth quarter of 2025, Warsaw’s total office stock stood at 6.23 million sqm. Cushman & Wakefield estimates that in 2026 the city’s office market will grow by only approximately 75,000 sqm. Most of the new office space scheduled for delivery this year, representing 75% of total supply, will be completed in the central zone.
At the end of the fourth quarter of 2025, the combined office stock of Poland’s largest markets – Warsaw, Kraków, Wrocław, Tricity, Katowice, Poznań, Łódź, Lublin, and Szczecin – stood at 12.96 million sqm. New office supply in 2025 remained constrained at just over 109,000 sqm, of which just under 89,000 sqm (81%) was delivered in Warsaw, with only 20,500 sqm completed in regional cities.
Development activity has steadily declined in recent years. Although a handful of office projects have broken ground, the overall development pipeline remains subdued. In Warsaw, it has shrunk from nearly 750,000 sqm in early 2020 to approximately 160,000 sqm today.
In 2025, leasing activity in Warsaw totalled 794,100 sqm, up approximately 7% year-on-year. This growth was underpinned by a record 309,850 sqm transacted in the fourth quarter, accounting for 40% of total annual take-up and marking the highest quarterly volume in the city since records began. Meanwhile, regional cities saw approximately 772,500 sqm transacted in 2025, an increase of around 8% year-on-year.
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Ewa Derlatka- Chilewicz Associate Director, Head of Research | Poland Email me
Vitalii Arkhypenko Consultant, Consulting & Research | Poland Email me
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