Warsaw’s office market gained significant momentum in the second quarter of 2026. Companies leased 282,800 sq m of modern office space, more than twice the volume recorded in the previous quarter and over 80% more than a year earlier. At the same time, the city’s vacancy rate fell to 8.5%, dropping to just 4.8% in central locations. The recovery was driven primarily by lease renegotiations, which accounted for more than half of total take-up.
The Polish Chamber of Commercial Real Estate, known by its Polish acronym PINK, has published aggregated data on the Warsaw office leasing market for the second quarter of 2026.
The figures were compiled using data provided by commercial real estate advisory firms, including Avison Young, Axi Immo, BNP Paribas Real Estate Poland, CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank, Newmark Polska and Savills.
The data covers Warsaw’s stock of modern office space, newly completed projects, leasing transaction volumes and the amount of vacant space available on the market.
Warsaw office stock exceeds 6.2 million sq m
At the end of June 2026, Warsaw’s total stock of modern office space stood at approximately 6,236,400 sq m.
During the second quarter, the refurbishment of the Przemysłowa 26 office building was completed. The project, owned by Powiśle Nieruchomości, added 2,350 sq m of modern office space to the market.
A total of 45,200 sq m of office space was delivered in Warsaw during the first six months of 2026.
Vacancy rate falls to 8.5%
At the end of the second quarter, Warsaw’s overall office vacancy rate stood at 8.5%. This was one percentage point lower than in the previous quarter and 2.3 percentage points below the level recorded in the corresponding period of 2025.
Approximately 529,500 sq m of office space was available for lease across the capital.
The vacancy rate in central office zones fell to 4.8%, indicating increasingly limited availability in the most sought-after locations. Outside the city centre, the vacancy rate stood at 11.8%.
Office take-up more than doubles
Demand for modern office space in Warsaw reached 282,800 sq m in the second quarter of 2026.
The City Centre, Służewiec and the Central Business District attracted the strongest tenant interest during the period.
The quarterly result represented a sharp acceleration compared with the first three months of the year, when office take-up amounted to 133,800 sq m. In the second quarter of 2025, leasing activity totalled 155,000 sq m.
This means that demand more than doubled quarter on quarter and increased by over 80% compared with the same period a year earlier.
Lease renegotiations dominate the market
Between the beginning of April and the end of June 2026, lease renegotiations accounted for 52% of total office take-up in Warsaw.
New leases, including pre-lease agreements, represented 44% of the space covered by transactions. Expansions by existing tenants accounted for the remaining 4%.
The structure of leasing activity indicates that many companies are choosing to remain in their current office buildings while renegotiating the commercial terms of their agreements. At the same time, the substantial share of new leases shows that businesses remain active in seeking modern office space, particularly in central Warsaw.
