The Polish Chamber of Commercial Real Estate (PINK) has published aggregated data on the Warsaw office rental market for the third quarter of 2025. According to the report, by the end of September 2025, the total stock of modern office space in the capital exceeded 6,245,000 square meters, with one new office project completed during the quarter.
The data, provided by leading real estate advisory firms — Avison Young, Axi Immo, BNP Paribas Real Estate, CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank, Newmark Polska, and Savills — covers Warsaw’s modern office stock, newly delivered projects, lease transaction volumes, and vacancy rates.
New Supply: Minimal Additions After a Strong Q2
In Q3 2025, the Warsaw market gained 3,500 square meters of new office space from a single project — Stoen Operator, located in the Mokotów district.
For comparison, Q2 2025 saw a significant expansion, with 79,600 square meters delivered across two major developments: The Bridge and Office House, both situated in the central business area around Rondo Daszyńskiego.
Vacancy Rate Falls to 9.7%
At the end of September 2025, Warsaw’s vacancy rate stood at 9.7%, down 1.1 percentage points compared with the previous quarter and 1 percentage point lower than in the same period of 2024.
The total available office space amounted to 605,900 square meters.
- In central zones, the vacancy rate was 6.9%,
- while in non-central areas, it reached 12.1%.
This marks the first time in over two years that Warsaw’s office vacancy rate has dropped below 10%, reflecting steady tenant demand and limited new supply.
Leasing Activity: 185,100 m² in Total Demand
In the third quarter of 2025, demand for modern office space reached nearly 185,100 square meters. The City Centre and Służewiec districts attracted the strongest interest from tenants.
Between July and September 2025, new lease agreements (including pre-leases) accounted for 53% of total leasing activity, while renegotiations represented 40%. Owner-occupier leases made up 2%, and expansions accounted for 5% of total demand.
A Stable and Maturing Market
The Q3 2025 data confirms that Warsaw’s office market remains stable and resilient, with steady demand, declining vacancy, and limited new supply. The capital continues to attract both domestic and international tenants, particularly in prime locations offering high technical standards and ESG-compliant features.
