Warsaw’s office market is moving into a period of clear supply shortages, particularly in central locations. By the end of 2025, the vacancy rate had fallen to 9.1%, while in the city’s core only around 5–6% of office space remains available, according to the latest data from CBRE. At the same time, new supply remains very limited, and record-high demand is driven largely by renegotiations of existing leases.
The share of vacant office space in Warsaw has been steadily declining. After exceeding the 10% threshold in the third quarter of 2025, the vacancy rate fell to 9.1% by year-end. However, there are significant differences between districts. In the central area of the city, vacancies dropped to 6.2%, and in the Western Fringe of the City Centre to 5.5%. By contrast, availability outside the core remains higher at 11.6%, with Służewiec standing out at 18.2%.
“The stock of modern office space in Warsaw is also shrinking. At the end of 2025 it amounted to 6.23 million sq m, down from 6.29 million sq m a year earlier. This decline is the result of increasingly frequent changes in the use of existing buildings. Office buildings are being converted into educational, medical, sports or residential facilities. The scale of new supply is too small to offset these losses,”
says Katarzyna Gajewska, Director of Market Research and Analysis at CBRE.
Limited New Supply
In the fourth quarter of 2025, no new office buildings were delivered. Over the entire year, only two larger projects—The Bridge and Office House—received occupancy permits, adding 88,700 sq m of new space. Currently, around 200,000 sq m of office space is under construction or redevelopment, with completion scheduled by 2028.
Record Demand—Driven Mainly by Renegotiations
The fourth quarter of 2025 saw a record transaction volume, with total take-up reaching 309,900 sq m. Over the full year, tenants leased 794,100 sq m of office space. It is important to note, however, that this strong demand was largely the result of lease renewals. In Q4 alone, 64% of transactions were renegotiations, while 32% were new leases. On an annual basis, the structure was more balanced but still favoured renegotiations, which accounted for 51% of take-up, compared with 40% for new leases. Expansions made up the remaining few percent.
Most Active Locations and Sectors
In 2025, the largest share of demand was recorded in the Western Fringe of the City Centre (22.8%) and Służewiec (22.7%). By sector, industrial companies were the most active, accounting for 14% of total demand, followed by IT (13%) and business services (11%).
Source: ceo.com.pl
