Growing supply of office space in Poland's major cities

2010-07-20

In Q2 2010, the office space market in Krakow, Wroclaw, Lodz, Poznan, the Tri-City and Katowice reported higher supply growth, according to a Jones Lang LaSalle (JLL) report. A total of 88,500 m² of office space was completed in these six cities, while the first three months of the year saw only 38,700 m² of new office space delivered to the market.
The highest supply was recorded in Krakow and Wroclaw where, respectively, 420,000 m² and 362,000 m² of modern office space is now available. Altogether, Poland's six largest cities (excluding Warsaw) offer a stock of 1,730,000 m² of office space.
In H2 2010, an additional 88,000 m² of modern offices will be completed, according to JLL. These projects were mostly started when the market was at its peak; new project starts are mostly expected near the end of 2011 and throughout 2012. Due to restrictive lending policies adhered to by banks during the crisis, the next year's supply of modern office space will be around 130,000 m².
276,000 m² of modern office space was under construction in Q2 2010, with the bulk of construction activity concentrating in Krakow (62,000 m²), Wroclaw (65,000 m²) and Lodz (49,000 m²).

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