Office space availability in Poland’s capital is steadily shrinking, particularly in the city center. According to CBRE data, newly completed projects in Warsaw are already 76% leased, with negotiations underway for the remaining space. By the end of the third quarter of 2025, the total office supply in the city had declined, and the vacancy rate fell to its lowest level since 2021. Experts note that competition among tenants is intensifying, driving up rental rates.
Shortage of Office Space Becoming More Noticeable
The shortage of modern office space in Warsaw is becoming increasingly evident. Since the beginning of the year, more than 141,000 square meters have been withdrawn from the market — primarily due to building modernization or conversion to other functions. In the third quarter, only one new project was completed — Stoen Operator’s new headquarters (3,500 sqm).
The total new supply for 2025 is projected at 120,000 sqm, the highest since 2022. However, this will not offset the space withdrawn from the market, although it contributes to an overall improvement in quality. Consequently, 2025 will mark the second year in history when Warsaw’s total office stock has decreased. Moreover, most new projects are already pre-leased, with only a few floors still under negotiation.
Warsaw Filling Up
Demand for office space in the capital continues to outpace the availability of new developments. In the third quarter of 2025, demand reached 185,000 sqm, split almost evenly between the city center (48%) and non-central zones (52%).
The City Centre West district, encompassing the Wola area near Rondo Daszyńskiego, accounted for approximately 51,000 sqm of leased space. The Służewiec area also performed strongly, with 33,000 sqm of lease agreements signed.
The public sector was the most active, generating 17.4% of total demand, followed by the manufacturing industry (16.8%) and business services (16.7%).
“The vacancy rate has dropped significantly, reaching its lowest point since 2021 — 9.7% across Warsaw, and just 6.9% in the city center. The limited availability of space in central locations is driving noticeable rent increases and prompting companies to start leasing processes earlier. Both in the Central Business District (CBD) and around Rondo Daszyńskiego, availability hasn’t been this low in five years. This will continue to put pressure on lease conditions and may redirect tenant interest toward ‘second-best’ locations — areas like Mokotów or Aleje Jerozolimskie are already benefiting,” said Katarzyna Gajewska, Head of Research and Market Analysis at CBRE.
In City Centre West, the availability rate dropped to 5.8%, while Służewiec recorded 18.8%. Rents in prime locations now reach up to €27.5 per square meter per month.
Source: ceo.com.pl
