In recent years, the office sector in Poland has maintained its dominant position in the structure of investment transactions, despite changing trends in the real estate market. In 2025, offices accounted for nearly 40% of the total transaction volume, highlighting their growing attractiveness among investors. The record-high demand for modern office spaces, coupled with a supply shortage in prime locations in Poland, are the key factors driving the sector’s continued growth.

 

Strong Demand and Office Space Shortage

 

The growing demand for office space in Poland has encountered significant supply constraints, particularly in Warsaw. The capital’s office stock shrank by more than 160,000 m² in 2025, and over the past five years, more than 500,000 m² of office space has been removed from the market. This trend, where older, inefficient office buildings are being withdrawn, results in a diminishing supply of modern spaces in the most attractive locations. In particular, the central zones of Warsaw are experiencing a severe shortage of office space.

Developers, despite the ongoing demand, are limiting their activity in the market. In 2025, only about 200,000 m² of office space were under construction in Warsaw, which is four times less than during periods of market prosperity. This has resulted in a further decrease in vacancy rates and an increase in rent prices.

 

Rent Increases and Improved Profitability of Office Assets

 

The limited availability of office space, combined with increasing demand, has led to rising rent prices, particularly for prime office spaces. In Warsaw, base rents have already exceeded 30 euros/m²/month in selected projects, and experts predict further upward potential. Similar trends are noticeable in regional markets, including in Kraków, Poznań, and Wrocław, where small rent increases were also recorded in 2025.

The increase in rents in prime locations directly translates into improved profitability of office assets, making the sector increasingly attractive to investors. Growing interest in office investments also stems from the fact that investors are seeking assets that offer an attractive price-to-quality ratio, as well as the potential for further value growth through tenant group optimization and building expansions.

 

Increased Investment Activity and Office Market Growth

 

In 2025, the office sector regained its position as the leader in Poland’s investment market. According to data, around 30% of the investment volume in this sector came from domestic capital, focusing on office assets with growth potential. Additionally, 2025 saw a record-breaking lease volume of over 1.56 million m², with half of this consisting of renegotiated leases. In Warsaw, nearly 800,000 m² of office space were rented, and the fourth quarter recorded a historic result—310,000 m².

 

The Future of the Office Sector in Poland

 

Forecasts for 2026 indicate continued development in the office market in Poland. A stable macroeconomic environment, falling inflation, interest rate cuts, and Poland’s strong economic position all contribute to a growing interest in office investments. Investment activity is expected to be based on solid structural foundations, which may bring further growth to the office sector in Poland.

In 2026, offices in Poland have the chance to strengthen their position in the commercial real estate market, attracting both domestic and foreign capital. The ongoing supply shortage, growing demand, and further development of investments in modern office spaces all suggest that this sector will continue to be one of the most dynamic in Poland.

 

source: prestigepr.pl