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Kraków continues to hold its position as the second-largest office market in Poland, just behind Warsaw. The city currently offers 1.83 million sqm of modern office space, accounting for over 14% of the country’s total supply. Tenant demand remains high – in the first quarter of 2025, lease agreements were signed for nearly 57,000 sqm, the highest volume among all regional markets.
Growing Demand Amid Limited Supply
“No new office buildings were delivered in Kraków in Q1 2025, but 61,000 sqm are currently under construction – the largest volume among regional markets. Over half of this space is scheduled for completion in 2026. The largest ongoing development is Tischnera Green Park (28,500 sqm), being delivered by Stalprodukt,” said Michał Kusy, Market Research Analyst at Knight Frank.
“Tenant activity has surged, with leasing volumes up by 31% year-on-year, reaching nearly 57,000 sqm. This represents 32% of all regional leasing activity outside of Warsaw. Particularly noteworthy is the structure of demand: 53% came from new leases, 34% from renewals – a reversal of last year’s trend – and 13% from expansions, indicating continued market growth,” added Aleksandra Markiewicz, Head of Tenant Representation at Knight Frank.
Sustainability as a Key Selection Factor
“Tenants in Kraków are increasingly choosing environmentally certified buildings. In Q1 2025, 71% of leased office space was located in green-certified properties, nearly half of which were rated at the highest levels (BREEAM Excellent, BREEAM Outstanding, and LEED Platinum),” Markiewicz noted.
Declining Vacancy and Stable Rental Rates
As of the end of March 2025, Kraków’s vacancy rate fell to 17.6% – the lowest level in two years. This represents a quarter-on-quarter decrease of 1.4 percentage points and a year-on-year drop of 2.6 percentage points.
Rental rates remain stable, typically ranging from EUR 10 to 18 per sqm per month. However, in prime locations, rents may significantly exceed this range. Operating costs remain relatively unchanged, averaging between PLN 16 and 29 per sqm per month.
Solid Foundations for Further Market Growth
Kraków’s office market continues to demonstrate maturity and resilience, supported by stable demand, a pipeline of sustainable developments, and a healthy vacancy rate. The outlook for the coming quarters remains optimistic – both for investors and tenants.
If you’re considering relocating, expanding, or simply exploring office space options in Kraków, our team is here to help. With deep market insight and a tenant-first approach, we’ll guide you through every step of the process.
Contact us to discuss your needs – we’re happy to help you find the right space.
Aleksandra Markiewicz
Associate Director
M. +48 609 038 568
E-mail: aleksandra.markiewicz@pl.knightfrank.com
