According to the latest report by one of the largest real estate consulting firms, Savills, the Polish office market continues to evolve, adapting to new challenges and trends. Despite limited new supply, economic stabilization and growing interest in flexible office solutions indicate positive prospects for the sector in the coming years. Developers and property owners are focusing on optimizing existing spaces and implementing innovative solutions to enhance the attractiveness of office spaces for companies seeking high-standard offices.
SUPPLY AND ONGOING PROJECTS
At the end of 2024, the total modern office space in regional cities reached 6.78 million sqm, marking a 2% year-on-year increase. The largest markets remain Krakow (1.83 million sqm), Wroclaw (1.38 million sqm), and Tricity (1.07 million sqm). However, the volume of space under construction and new supply decreased by 41% and 56%, respectively, compared to 2023. Among the new projects exceeding 10,000 sqm are Grundmanna Office Park A in Katowice (20,700 sqm), Quorum Office Park A in Wroclaw (18,200 sqm), B10 in Wroclaw (14,100 sqm), and Brain Park C in Krakow (13,000 sqm).
The dynamic growth of Krakow and Poznan, with 57,500 sqm and 52,600 sqm under construction respectively, highlights the continued strong interest in office investments in regional markets. New office buildings are also being developed in Wroclaw (28,600 sqm), Tricity (22,700 sqm), Katowice (15,600 sqm), and Lublin (13,000 sqm).
“Modern office spaces increasingly incorporate technologies that enhance energy efficiency and user comfort. New investments are designed with sustainability in mind, and environmental certifications such as LEED and BREEAM are becoming market standards. Investors and developers prioritize them, and tenants expect them,” comments Daniel Czarnecki, Head of Landlord Representation, Office Agency, Savills.
TENANT ACTIVITY AND NEW OPPORTUNITIES
Despite challenging market conditions, 2024 ended with a solid result of 714,000 sqm of leased space, confirming strong demand for offices. The majority of tenants represented the IT sector (27% of leased space), business services (16%), industry (14%), and finance (12%).
The highest demand was recorded in Krakow (266,700 sqm), Wroclaw (146,500 sqm), and Tricity (116,300 sqm). Notably, Krakow and Lodz stood out with a 33% and 9% year-on-year increase in tenant activity, respectively. Meanwhile, Szczecin, Lublin, and Tricity had the lowest vacancy rates at 7.7%, 11.6%, and 12.5%, respectively.
With the increasing vacancy rate, which reached 17.8% in 2024, lease renegotiations played a crucial role, accounting for 51% of all transactions.
DYNAMIC GROWTH OF FLEXIBLE OFFICE SPACES
The year 2024 saw significant growth in the flexible office space market. The largest lease was secured by The Shire – Beyond Coworking, which will occupy 4,500 sqm across two locations. Additionally, office building owners have been actively developing their own flexible office concepts.
“We consistently observe high activity among flexible workspace operators, who, responding to the rising popularity of hybrid work models, leased a total of 24,500 sqm of space—a 25% increase compared to the previous year. This upward trend reflects the growing demand for flexible work arrangements and adaptable office spaces,” adds Jaroslaw Pilch.
By the end of the year, regional cities had 104 flexible office locations with a total area of 181,300 sqm, offering approximately 22,300 workstations. The largest markets, Krakow (60,000 sqm) and Wroclaw (42,000 sqm), accounted for 56% of the total supply. An additional 12,000 sqm is expected to become available in 2025.
Regional cities offer a diverse range of flexible spaces, with an average office size exceeding 1,700 sqm. The largest location, Fabryczna Flex in Krakow, spans 9,000 sqm.
TRENDS SHAPING THE MARKET
The office market is witnessing dynamic trends in workspace design. Companies increasingly invest in office spaces that foster teamwork, offering relaxation zones, green terraces, and advanced technological solutions such as smart building management systems. There is also growing interest in locations near major transportation hubs, improving employee convenience.
Another significant trend is the rising awareness of environmental sustainability. More companies seek offices with green certifications, aligning with their ESG strategies. Modern buildings feature energy-efficient management systems, water-saving solutions, and green technologies that enhance indoor air quality.
STABLE RENTAL CONDITIONS AND OPTIMISTIC OUTLOOK
Rents in regional markets remained stable, ranging from €12 to €17 per sqm per month, making the Polish office market attractive to both domestic and international companies.
“In 2025, we can expect further market stabilization and a gradual increase in tenant activity. Companies are increasingly investing in modern office solutions, and the growing popularity of flexible workspaces indicates the future direction of the sector,” adds Jaroslaw Pilch.
In the coming years, adapting office offerings to evolving tenant expectations will be crucial in strengthening the Polish office market. The sector’s growth will depend on flexibility in meeting companies’ changing needs, implementing new technologies, and prioritizing sustainable development. Poland remains an attractive destination for office investments, and an innovative approach to workspace design will further solidify its position in the European commercial real estate market.