The cities with the largest amount of office stock after Warsaw were Kraków (1,617,600 sqm), Wrocław (1,253,100 sqm) and the Tri-City (963,300 sqm). Over 2021, 226,300 sq m of office space was completed, with the largest amount of space delivered in the Tri-City (73,200 sqm), followed by Kraków (60,700 sqm) and Poznań (37,500 sqm). In Q4 2021 there were seven projects delivered of over 79,000 sq m, with the largest being the 3T Office Park (38,200 sq m) in Gdynia. At the end of Q4 2021, 853,650 sqm was unleased resulting in a vacancy rate of 14.1 pct (up by 0.6 pp q-o-q and an increase of 1.4 pp compared to the end of 2020). The highest vacancy rate was recorded in Wrocław at 16.7 pct, while the lowest was in Szczecin at 5.3 pct. The total volume of leases signed over 2021 came to 594,500 sqm, up 2.1 pct compared to the previous year. However, in the fourth quarter of 2021 alone the volume was 63 pct higher y-o-y. Over the year, the largest volume of space was leased in Kraków (156,000 sqm) followed by Wrocław (135,400 sq m). New deals accounted for 49 pct of the take up (including pre-lease transactions and owner-occupier deals). Renewals accounted for 43 pct while expansions for 8 pct. In Q4 2021, renewals took the largest share at 48 pct, whereas new agreements accounted for 41 pct and expansions for 11pct. The largest transactions in 2021 include a lease renegotiation by an undisclosed IT tenant in the Green Horizon building in Łódź for 24,100 sqm, a lease renewal and expansion by Rockwell Automation in the A4 Business Park III in Wrocław for 19,500 sqm, and a lease renewal by an undisclosed tenant from the financial sector in Business Garden Poznań for 17,400 sqm. The data is sourced from BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark and Savills.