Fewer transactions, more vacancies. Disturbing data

The Polish Chamber of Commercial Real Estate (PINK) today published quarterly data on the office space market. Eight main regional markets in Poland were analyzed – Kraków, Wrocław, Tricity, Katowice, Poznań, Łódź, Lublin and Szczecin – for the third quarter of 2025.

– At the end of September, the total stock of modern office space in eight major regional markets amounted to 6,732,400 sq m. – we read in the PINK statement.

Office market – the largest transactions in the third quarter

PINK also summarized the largest transactions of the third quarter of 2025. They included:

• purchase for its own needs of the Brama Miasta II office building (14,200 sq m) in Łódź by the Łódź Voivodeship Government,

• extension and expansion to a total area of ​​9,700 sq m. Rockwool company in the Nowy Rynek complex in Poznań,

• extension of the lease agreement by GlobalLogic for 6,500 sq m. in the Bonarka for Business complex in Krakow.

The largest office markets in Poland

According to the PINK report, after Warsaw, the largest office markets remain Kraków (1,846,700 sq m), Wrocław (1,344,200 sq m) and Tricity (1,067,000 sq m). From July to the end of September 2025, three new office buildings for commercial lease were put into use, with a total area of ​​15,600 sq m.

Vacancies on the office market

There was approximately 1,192,300 sq m available immediately in eight major regional markets. office space, which corresponds to a vacancy rate of 17.7%. Compared to the previous quarter, the increase was 0.2 pp, and compared to the same period of 2024 – 0.4 pp

The Chamber indicates that the highest percentage of vacant space was recorded in Katowice – 23.4%, and the lowest in Szczecin – 6.8%.

Rental and transactions in the third quarter

The total volume of lease transactions registered in the third quarter of 2025 was 134,400 sq m, which means a decline both quarterly (-38%) and yearly (-36%). The greatest interest in office space was recorded in Kraków (31,900 sq m), Wrocław (26,600 sq m) and Łódź (23,300 sq m).

– In the third quarter of 2025, renewals of current lease agreements recorded the largest share in transaction volume, which amounted to 42%. New contracts recorded a similar level, accounting for 41%. A relatively high share, at 12%, went to transactions for the building owners’ own needs, while expansions amounted to 5%. activities – we read in the PINK press release.

Office market prospects

Despite the decline in transaction volume, the office market continues to develop through new investments. Differences in the vacancy rate between regions show that competition for tenants is strong. Kraków, Wrocław and Tricity remain, apart from the capital, the main centers attracting companies, which confirms the continuing interest in premium space and flexible offices for rent.

The source of information are consulting companies operating on the commercial real estate market (Avison Young, Axi Immo, BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark, Savills). The summary covers the existing resources of modern office space, new facilities put into use, the volume of rental transactions and the amount of vacant space.