Kraków’s office market maintained stable fundamentals in the first quarter of 2026, despite a clear decline in tenant activity following a record-breaking 2025. A stable vacancy rate, limited new supply, and a growing share of new leases and expansions confirm the resilience of Poland’s largest regional office market.
Kraków’s office stock totals 1.85 million sq m, representing approximately 14% of Poland’s total office space. In the first quarter of 2026, both the vacancy rate and asking rents remained stable, despite a lower leasing volume.
Limited New Supply Reduces Availability of Modern Office Space in Kraków
Development activity in Kraków, as in most regional office markets in Poland, remains very limited. In the first quarter of 2026, only one project was completed — Fabryczna Office Park B7, offering approximately 8,000 sq m of office space.
Around 50,000 sq m of modern office space is currently under construction, more than half of which is expected to be delivered later this year. The largest project underway is Tischnera Green Park, offering 24,000 sq m, with completion scheduled for the end of 2027.
“The Kraków office market is currently operating in an environment of very limited new supply. Low development activity will support market stabilisation in the coming quarters and gradually reduce the availability of modern office space,” comments Dorota Lachowska, Head of Research at Knight Frank.
New Leases Dominate Demand Structure
In the first quarter of 2026, just under 17,000 sq m of office space was leased in Kraków, representing a 66% year-on-year decline after a very strong previous year. Despite the lower volume, the structure of demand remains a positive signal for the market.
New leases accounted for 60% of total leasing volume, while the share of expansions rose to 12%. This indicates a greater willingness among companies to make new decisions regarding office space and to continue developing their operations in Kraków.
The leasing market continues to be driven primarily by business services companies, which accounted for 21% of demand, and the IT sector, with a 17% share. However, the manufacturing sector also played an important role in the first quarter, accounting for almost one-third of signed agreements, at 32%.
“Despite a temporary slowdown in tenant activity, we are seeing a growing share of new leases and expansions, which confirms that companies still see Kraków as an attractive location for business growth,” adds Monika Sułdecka-Karaś, Partner and Regional Director at Knight Frank.
Vacancy in Central Kraków Remains Significantly Lower
At the end of the first quarter of 2026, Kraków’s vacancy rate stood at 18.4% and remained virtually unchanged compared with the previous quarter. The stabilisation of vacancies was supported, among other factors, by the growing share of expansions and limited new supply.
The market, however, remains clearly polarised. The best situation can be observed in central locations, where the vacancy rate is only 9.8%.
Looking ahead to the coming quarters, low development activity combined with the continued share of new leases and expansions should support further market stabilisation.
Office Rents in Kraków Remain Stable
In the first quarter of 2026, asking rents in modern office buildings in Kraków remained stable and most commonly ranged from EUR 10 to EUR 18 per sq m per month. In the most prestigious projects, rates exceeded the upper end of this range.
Service charges also remained stable, ranging from PLN 16 to PLN 29 per sq m per month, depending on the building standard and scope of services offered.
