Occupier activity across Poland’s regional office markets totalled 310,000 sq m in H1 2026, representing a 21% year-on-year decline. At the same time, net take-up increased by 13% year on year, development activity measured by new supply remained limited and occupiers continued to place increasing emphasis on quality. These findings come from AXI IMMO’s latest report on Poland’s regional office markets.
Occupier activity across Poland’s regional office markets totalled 310,000 sq m in H1 2026. The volume of lease transactions signed in Q2 2026 was approximately 1.5 times higher than in Q1, although this was not sufficient to offset the subdued start to the year.
H1 2026 was characterised by a high share of new leases and expansions in total take-up. As a result, net take-up increased by 13% year on year and accounted for 59% of total demand, while renewals represented the remaining 41%.
Karolina Słysz, Head of Regional Markets at AXI IMMO, comments: “Although total leasing volume was lower than a year earlier, the regional markets demonstrated their resilience through a clear increase in net take-up. The high share of new leases and expansions confirms that companies continue to expand their operations and seek high-quality office space”.
The largest lease transactions concluded in H1 2026 included Brown Brothers Harriman’s new lease at WITA C in Kraków (13,700 sq m), Enea Group’s lease renewal combined with an expansion at Business Garden Poznań (11,500 sq m), and Adtran’s lease renewal at Tensor Y in Gdynia (6,800 sq m).
By sector, the highest volume of lease transactions was recorded in the IT, manufacturing and business services sectors.
Selective Development Activity and Limited New Supply
Total modern office stock across Poland’s regional office markets stood at 6.76 million sq m at the end of H1 2026. Kraków, Wrocław and Tricity remain the most mature markets, both in terms of existing stock and the diversity of office formats available.
Following several years of intensive office development across the regional markets, development activity measured by new supply has been steadily slowing since 2024. In H1 2026, more than 70,000 sq m of office space was delivered across the regional markets, while the development pipeline totalled just under 180,000 sq m, down 22% year on year.
Poznań is currently the most active city in terms of development activity.
As in Warsaw, regional markets are also seeing a growing trend towards the withdrawal of inefficient and obsolete office buildings from the leasing market, followed by the repurposing of these sites for alternative uses, including residential, hotel and educational functions.
Vacancy Rates Continue to Stabilise
At the end of H1 2026, the average vacancy rate across the regional office markets stood at 17.3%, representing a slight decline both quarter on quarter and year on year.
The highest vacancy rates were recorded in Katowice (22.2%) and Wrocław (21.8%), while Szczecin maintained the lowest vacancy rate among regional cities at 8.4%.
Despite relatively high vacancy rates, the regional office markets are seeing increasingly clear polarisation in terms of property quality and rental levels.
Rental Growth Remains Concentrated in Best-Performing Schemes
At the end of H1 2026, asking rents across regional office markets ranged between EUR 8.00 and EUR 19.00/sq m/month.
Rental levels vary significantly between individual properties. Older, technologically inefficient buildings often struggle with elevated vacancy rates and therefore offer space at relatively low rents, while rates in the best-performing assets can reach up to EUR 20.00/sq m/month.
Karolina Słysz, Head of Regional Markets at AXI IMMO, informs: “We are seeing increasingly clear polarisation across the regional office markets. Occupiers are focusing on modern, well-located buildings, allowing landlords of the best-performing schemes to maintain, and in some cases increase, rental levels despite relatively high vacancy rates“.
Outlook: Quality-Driven Selection to Continue
The polarisation of the office market, reflected in the growing divide between attractive buildings that continue to generate occupier interest and lower-quality properties struggling with elevated vacancy levels, is expected to become increasingly visible across the regional markets.
Non-competitive office buildings will be gradually withdrawn from the leasing market, while limited new supply should support the stabilisation and, subsequently, a gradual decline in average vacancy rates.
Total new supply across the regional markets in 2026 is estimated at approximately 120,000 sq m, around three times lower than during the period of intensive development growth up to 2024.
Emilia Trofimiuk, Research Manager at AXI IMMO, adds: “The coming years will bring further quality-driven selection across the office stock. Limited new development, combined with the withdrawal of office buildings whose sites offer greater potential for alternative uses, such as residential or hotel development, will gradually reduce vacancy levels and support rental growth in the best-performing regional schemes”.
