Office Market During COVID-19
The office market is slowly recovering from the COVID-19 pandemic. Hard data proves that stabilization is returning. As REDD's #RealTime report shows, the increase in vacant office space for rent was already slowing down in May. The number of leases was also growing.
Real estate market data provider REDD was the first company in Poland to evaluate the impact of the COVID-19 pandemic on the office market. The report shows data for the period from 01/03/2020 to 31/05/2020.
Since the first case of COVID-19 in Poland, we have observed a dynamic increase in available office space, which at its peak has grown by over 180,000 sqm.
The total supply of available office space in Poland in buildings delivered and commercialised while still under construction amounted to (as of 31/05/2020) 2.40 million sqm.