Warsaw remains the largest and strongest office market in Poland, with stable demand and a declining vacancy rate. In Q3 2025, the vacancy rate fell to 9.7%, its lowest level in nearly five years, supported by limited new supply growth. The market is becoming increasingly polarized, with tenant activity shifting toward prime central buildings, which now account for 46% of the total stock. Over 88,000 sq m of office space was withdrawn from the market due to repurposing or demolition, primarily in the Służewiec area. New supply delivery increased by 18% compared to the same period last year, with The Bridge office building contributing 47,000 sq m. However, developer activity remains low, with only 140,000 sq m under construction, mostly in central areas. Lease agreements for 487,000 sq m were signed between January and September 2025, with a growing preference for green and sustainable buildings (70% certified). New leases dominated transactions (45%), while renewals accounted for 42%. The average vacancy rate in central zones was 6.9%, compared to 12.1% in non-central zones. Rental rates remained stable with an upward trend, particularly in prime buildings (EUR 18.00–32.00/sq m/month in the city centre). The labour market is entering a phase of stability, with cautious pay policies and a shift in favour of employers. Finance and IT sectors, especially cybersecurity and big data analytics, show strong demand. Recruitment processes have lengthened, and candidates are more selective about job changes. The real estate sector remains a candidate’s market, with opportunities for professional growth, particularly in technological skills. Regional salary differences are narrowing, and soft skills, digital competencies, and adaptability are becoming increasingly important.
