As of the end of the third quarter of 2024, the office market in Poland is showing signs of stabilization after an intense period of transformation and adaptation to the new reality. Significant post-pandemic shifts in how companies approach office-based work, coupled with a drastic rise in construction costs caused by disrupted supply chains, the ongoing conflict in Ukraine, and rampant inflation, have been ongoing for nearly four years. This has led both Landlords and Tenants, over such an extended period, to recover from these changes and adjust to the new market conditions.

At Adventum International following a successful start of the year with nearly 14,000 sqm of office space leased within our Polish office portfolio, we are also noticing a clear increase in demand for office space not only in Warsaw but in regional cities as well during the second half of the year.

The office market in Poland has undergone and will continue to undergo dynamic changes compared to previously known ‚standards’. Minimum five year lease terms and ‚turnkey’ fit-outs financed by the landlord – in the absence of rental rate increases – will likely become a thing of the past. The ever-growing expectations of tenants for more flexible lease agreements mean that investment funds are increasingly open to exploring various collaboration models with serviced office and coworking operators. They treat such services as excellent amenities and complements to their projects. Some investment funds are even investing in their own flex office concepts recognizing the potential to attract and retain both new and existing tenants within their properties. Changes in the commercialization strategies of existing office buildings are becoming more frequent than in the previous years.

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