Tricity—comprising Gdańsk, Gdynia, and Sopot—remains one of Poland’s largest regional office markets, alongside Warsaw, Kraków, and Wrocław, with over 1 million sqm of modern office space. Like other Polish cities, new office supply in the region has significantly slowed, reaching the lowest construction volume in over two decades. This limited supply, combined with steady demand, has kept the vacancy rate relatively low at 12.6%, compared to other regional markets.
Market Overview – Q1 2025
As of the end of March 2025, Tricity’s total modern office stock stood at 1.07 million sqm. Gdańsk dominates the market, accounting for 75% of the total stock, with the majority of buildings located along Grunwaldzka Avenue and near the historic city center.
Record-Low Developer Activity
Developer activity in the region is at a historic low. Only 30,000 sqm of office space is currently under construction—the lowest level in more than 20 years. Furthermore, just 5,000 sqm is scheduled for completion by the end of 2025.
Demand Remains Resilient, Driven by Gdańsk
“Despite stagnation on the supply side, demand for office space remains stable. In Q1 2025, total take-up exceeded 26,000 sqm—representing a 5% increase compared to the previous quarter. Nearly all activity was concentrated in Gdańsk. Gdynia saw just one new lease (300 sqm), and no deals were recorded in Sopot,” notes Joanna Gomułkiewicz, Director at Knight Frank’s Commercial Agency.
Renegotiations accounted for 49% of all leasing activity, underscoring the importance of cost efficiency and lease continuity. New leases represented 42%, while 9% were owner-occupied deals.
Vacancy Rates Remain Under Control
“At the end of March, the vacancy rate in Tricity stood at 12.6%, one of the lowest among Poland’s regional office markets. Gdańsk recorded a vacancy rate of just 9.3%, while Gdynia and Sopot stood at 23.2% and 18.4%, respectively. Stable demand and limited new supply could push vacancy rates even lower in the coming quarters,” adds Michał Kusy, Market Research Analyst at Knight Frank.
Stable Rents, Rising Operating Costs
Asking rents have remained stable, ranging between EUR 11.00 and EUR 16.00 per sqm/month. Prime locations and premium office space may exceed this range. However, operating costs are increasing, now falling between PLN 18 and 31 per sqm/month.
Outlook
Despite the slowdown in new construction, Tricity’s office market remains resilient and stable. Sustained demand—especially in Gdańsk—and low vacancy rates form a solid foundation for future growth, albeit at a more measured pace.
