In the first quarter of 2026, Warsaw’s office market was marked by a low vacancy rate of 9.5%, according to the latest data from CBRE. Office stock in Warsaw increased slightly, with two major office projects delivered to the market. At the same time, these were the last larger developments scheduled for completion in 2026. During the same period, six office buildings disappeared from the market map, mainly due to planned changes in their use. The remaining projects in preparation are scheduled for completion in 2027–2028, which means there will be no new supply in the remainder of 2026.
New leases dominate the market
Total office demand reached 134,000 square meters. In the first three months of the year, new leases accounted for the majority of demand, representing 51% of all transactions. Renegotiations made up 39% of total leasing volume, while expansions accounted for 9%. The largest transaction was the renegotiation of nearly 9,000 square meters in Neopark B by P4, with CBRE representing the tenant.
The activity of IT companies in Warsaw’s office market remains high, as reflected in their strong share of tenant demand by sector. In the first quarter, they accounted for 20% of all signed leases, clearly ahead of business services at 13% and the financial sector at 12%.
“Technology companies see the office as an important part of their operating strategy and a tool for attracting talent. This is confirmed by their strong demand for office space in the capital, despite the hybrid working model being widespread in this sector. Regardless of industry, organizations are looking for modern space in well-connected parts of the city. In the first quarter of 2026, as much as 54% of all agreements were signed in central Warsaw, with one quarter of all transactions concentrated around Rondo Daszyńskiego. Służewiec was also highly popular, accounting for 19% of leased space,” says Aleksander Hofmann, Head of Office Tenant Representation in Warsaw at CBRE.
Limited supply and stable vacancy
In the first three months of 2026, two major office buildings were delivered. The largest of them was Studio A, located in Wola, which added 24,000 square meters to the market. The second was VENA, delivering 15,400 square meters. A total of 120,000 square meters is currently under construction or renovation.
At the same time, six properties with a combined area of 31,000 square meters were withdrawn from the market. The main reason was a change in their use from office to other functions, including occupancy by medical facilities. At the end of the first quarter, total office stock in Warsaw stood at 6.28 million square meters, up from 6.23 million square meters at the end of last year.
The vacancy rate increased slightly compared with the end of 2025 and now stands at 9.5%. In the city center, it is 6.5%, while outside the center it reaches 12.2%. The Western City Centre Fringe recorded a vacancy rate of 7.1%, while Służewiec posted 18.7%.
