Insights

Due to the lockdown caused by the outbreak of the COVID-19 pandemic, most companies embraced a remote working model and scaled down business activity. How did this affect the Polish office market? Global real estate services firm Cushman & Wakefield presents a summary of H1 2020.

Global real estate services firm Cushman & Wakefield has summarized the Polish retail market. 406,000 sq m of retail space was handed over in 2019. The development pipeline currently stands at approximately 500,000 sq m, 85% of which is scheduled for opening by the end of 2020. Going forward, investors’ interest will increasingly shift towards smaller cities below 100,000 inhabitants, says Cushman & Wakefield.

At the end of 2019, the combined office stock of Poland’s regional city office markets climbed to 5.61 million sq m, surpassing Warsaw’s 5.59 million sq m for the first time in history. The total office stock of the nation’s nine largest markets (Warsaw, Krakow, Wrocław, Tricity, the Upper Silesian and Zagłębie Metropolis, Poznań, Łódź, Lublin, and Szczecin) came close to 11.2 million sq m at the end of last year, representing an almost 8% increase on 2018’s level.

As many as 165 tenants, developers, investors, coworking operators and media representatives from Poland and abroad attended the conference Coworking in Poland – Where Next?, during which global real estate services firm Cushman & Wakefield presented its report Coworking sector in Poland and latest data on the Polish flexible office market.

Through our proprietary Experience per Square FootTM (XSF) tool, Cushman & Wakefield has captured more than 2.5 million data points from workers all over the globe in the pre-COVID-19 era and a further 1.7 million data points from more than 50,000 respondents in the current work from home environment.