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 Q2 2026
Warsaw’s office market remains in a phase of low structural supply. With only approximately 130,000 sqm under construction, the development pipeline remains at its lowest level since the market’s early development in the mid-1990s. As new project launches remain limited, well-located assets are expected to benefit from increasingly favourable market fundamentals.
Office availability continues to tighten, particularly in central locations where vacancy has fallen to critically low levels. At the end of Q2 2026, the overall vacancy rate stood at 8.5%, while central locations recorded just 4.8%. Ongoing supply constraints are likely to accelerate the decline in available space, further strengthening landlords’ market position in prime office zones.
Rental growth remains firmly supported by limited supply and shrinking availability. Prime headline rents in Warsaw's city centre reached EUR 24-29 per sqm/month, with the strongest increases recorded in both existing prime buildings and projects under development. Further upward pressure on rents is expected, particularly in central locations and high-quality assets.
Occupier demand exceeded expectations in Q2 2026, despite limited relocation opportunities. Leasing activity totalled nearly 282,800 sqm, making it the third-highest quarterly result in Warsaw’s office market history. Demand continues to be driven by the expansion of shared service centres, supported by strong activity from the business services, IT, banking, pharmaceutical and public sectors.
Poland’s office market continues to be shaped by historically low development activity. The construction pipeline remains severely constrained across both Warsaw and regional cities, limiting future supply and supporting market fundamentals.
Occupier activity accelerated significantly in Q2 2026, reflecting improving business sentiment and sustained demand for high-quality office space. Leasing volumes increased across the largest office markets, with Warsaw recording particularly strong performance.
Vacancy rates are not homogeneous, with the strongest improvement recorded in Poznań, Warsaw and Tricity, while higher vacancy rates were observed in Kraków, Wrocław, Katowice and Łódź. In markets where availability is declining, particularly in prime locations, competition for the best office stock is increasing, strengthening landlords' market position.
Prime office rents remain on an upward trajectory, driven by limited new supply, rising development costs and demand for premium buildings. While rental growth is most pronounced in Warsaw, selected regional markets are also witnessing gradual increases in headline rents.
Improving liquidity and growing activity from both international and domestic investors continue to support the investment market. Despite ongoing financing challenges, overall sentiment across Poland’s office sector remains positive.
Please get in touch if you have any further questions relating to these insights or current market conditions. Find out more by visiting our
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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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