All news

Agnieszka Ostrowska: A well-maintained and well-managed building is the best showcase for the owner.

The first half of 2024 saw a continuation of trends observed in 2023. Relatively few new office spaces were brought to market, several properties were demolished, and the total area of buildings under construction decreased compared to the end of the previous year. The result? No significant increases in total office space in major cities. Average rental rates and service charges continue to rise, the time office spaces remain on the market is extending, and the vacancy rate is also increasing. How do industry experts summarize the first half of 2024? Below is one of the comments featured in the REDD Report: Office Market Trends, H1 2024.

Agnieszka Ostrowska, Associate Director Leasing Office, CPI Property Group

In the first half of 2024, CPI Property Group’s office leasing team successfully leased more than 50,000 sqm of space, achieving an excellent result. Today, clients value partnerships with landlords and attentiveness to their needs even more than before. These elements significantly influence decisions to extend current leases, as evidenced by a recent transaction with a global consulting firm that decided to remain in the myhive Nimbus building, occupying 7,300 sqm.

However, quality service is essential to underpin business relationships. Tenants and their staff appreciate an accessible, committed, and responsive leasing and management team. Additionally, tenants increasingly expect measures that enhance the value of their buildings, such as modernization, new technology investments, energy efficiency solutions, and reduced operating costs. A well-maintained and well-managed building serves as the owner’s best business card.

Clients also pay attention to the landlord’s approach to sustainability and the introduction of solutions for the well-being of office users. For CPI Property Group, these include building certification and thermal comfort upgrades, environmentally friendly initiatives, building community integration campaigns, workshops, and other solutions aimed at improving the workplace atmosphere.

Over the past few years, there has been increased interest in flexible spaces and rental-ready concepts in the Warsaw office market. It is important that these spaces are equipped, furnished, and fully serviced. Our myoffice and mycowork serviced offices, which provide comprehensive yet flexible space tailored to specific company needs, are very popular with tenants. These spaces are now available in key business districts most favored by clients, such as the Centre, near Wola and Ochota, and Służewiec.

We invite you to read the full REDD report. The entire document is available for download through the form below.