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.

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.

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.

Pre-letting has become an increasingly important component of the UK office market, especially since the global financial crisis. This report looks at its effect on the London office and UK regional office markets.