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In the first half of 2025, Warsaw’s office market reaffirmed its leading position in Poland. Over 85,000 sqm of modern office space was delivered, while total leasing activity reached 301,000 sqm, accounting for 44% of the country’s overall tenant activity. Despite a limited number of new developments, the market remains stable. Rents have held steady, and tenants are increasingly focused on sustainable, well-located buildings.
New supply focused on central locations
Warsaw continues to dominate the national office market both in terms of total stock and tenant activity. As of the end of June 2025, the capital’s total office stock stood at 6.33 million sqm – nearly half of all office space in Poland. More than 85,000 sqm of new space was delivered in H1 2025, with 80,000 sqm completed in the second quarter alone – the highest quarterly volume in the past three years.
–“The delivery of The Bridge by Ghelamco – the largest project completed in H1 with 47,000 sqm – marks a significant milestone on Warsaw’s office investment map. Despite this landmark development, new supply remains limited. Currently, only 130,000 sqm is under construction, with the majority located in central areas. This confirms the ongoing focus on the city’s most prestigious locations,” commented Michał Kusy, Market Research Analyst at Knight Frank.
Tenant demand remains high
Tenant demand remains strong. In the first half of 2025, leasing activity in Warsaw totaled 301,000 sqm, representing 44% of all transactions nationwide. Lease renegotiations accounted for 43% of this volume, while new leases made up over 40%. Expansions contributed 8% of total activity.
–“We are seeing a clear market polarization – tenants are increasingly opting for office space that meets the highest technical, environmental, and locational standards. Demand in the central districts of Warsaw rose by as much as 32% year-on-year,” added Mariusz Dąbkowski, Senior Negotiator at Knight Frank.
Green certifications gain importance
Sustainability is also playing a growing role in tenant decisions. In H1 2025, 71% of leased space was in buildings with green environmental certifications, and nearly half (48%) was in buildings with top-tier certifications such as BREEAM Excellent or Outstanding, or LEED Platinum.
Despite a relatively high new supply, the vacancy rate in Warsaw increased only marginally. In Q2 2025, it stood at 10.8%, up 0.3 percentage points from the previous quarter. In central areas (COB, City Centre, Rondo Daszyńskiego), vacancy was significantly lower at 7.8%, compared to 13.3% in non-central zones. The lowest vacancy was recorded in Mokotów at 5.4% (excluding Służewiec, which continues to have the highest vacancy at 21.1%).
Rents and service charges remain stable
Asking rents remained stable in Q2 2025. In central locations, rates typically ranged from EUR 18 to 28/sqm/month, with prime projects exceeding this range. Outside the centre, rents ranged from EUR 10 to 17/sqm/month. Service charges also remained unchanged, averaging between PLN 18 and 38/sqm/month.
If you’re planning a move, expansion, or simply looking for the right office solution in Warsaw, we’re here to help:
Mariusz Dabkowski
Senior Negotiator
M. +48 513 222 684
E-mail: mariusz.dabkowski@pl.knightfrank.com
