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Alongside Warsaw, Kraków, and Wrocław, the Tricity (Gdańsk, Gdynia, and Sopot) remains one of Poland’s largest office markets, with total modern office stock exceeding 1 million sqm. Similar to other major Polish cities, new supply growth in the region has significantly slowed, with construction activity at its lowest level in over two decades. Stable demand and limited new supply have kept the vacancy rate relatively low compared to other markets – at 12.6%.
At the end of March 2025, Tricity’s total modern office stock stood at 1.07 million sqm, with Gdańsk accounting for a dominant 75%, primarily concentrated along Grunwaldzka Avenue and near the historic city center.
Low Development Activity and Minimal New Supply
Developer activity in the Tricity is currently subdued, with just 30,000 sqm of office space under construction – the lowest volume in more than 20 years. Only 5,000 sqm is expected to be delivered by the end of 2025.
Demand Driven by Gdańsk
“Despite limited new supply, demand for office space remains stable. In Q1 2025, take-up exceeded 26,000 sqm, marking a 5% increase compared to the previous quarter. Nearly the entire volume was generated in Gdańsk, while Gdynia recorded only one new lease (300 sqm), and no transactions were registered in Sopot,” commented Joanna Gomułkiewicz, Head of Commercial Agency at Knight Frank.
The demand structure continues to be dominated by lease renegotiations, which accounted for 49% of total volume – highlighting the importance of relocation and fit-out costs for tenants. New leases made up 42%, while 9% were owner-occupier agreements.
Vacancy Rates Under Control
“The regional vacancy rate stood at 12.6% at the end of March – one of the lowest among Poland’s regional office markets. In Gdańsk, the rate was just 9.3%, while in Gdynia and Sopot it reached 23.2% and 18.4%, respectively. If demand remains stable and new supply continues to be limited, we may see further decreases in vacancy rates in the coming quarters,” added Michał Kusy, Market Research Analyst at Knight Frank.
Rents Stable, but Operating Costs on the Rise
Headline rents remained stable, typically ranging from EUR 11.00 to 16.00 per sqm per month, with prime locations and premium office space exceeding this range. However, operating costs have increased and currently range between PLN 18 and 31 per sqm per month.
Solid Fundamentals Despite the Slowdown
Despite the slowdown in new development, the Tricity office market remains stable and resilient. Sustained demand – particularly in Gdańsk – combined with low vacancy levels, provides a solid foundation for future growth, albeit at a more moderate pace.
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.
Joanna Gomułkiewicz
Associate Director
M. +48 669 970 051
E-mail: joanna.gomulkiewicz@pl.knightfrank.com
