More transactions, less vacancy. Is the office market returning to form?

The Polish Chamber of Commercial Real Estate (PINK) has 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 fourth quarter of 2025.

– At the end of the fourth quarter of 2025, the total resources of modern office space in eight main regional markets amounted to 6,724,300 sq m – we read in the PINK press release.

The largest transactions of the fourth quarter

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

• extension of the lease agreement for 12,600 sq m by Align Technology in the Wrocławski Park Biznesu Bierutowska Park III building in Wrocław,

• extension and expansion to a total area of ​​12,200 sq m by a confidential tenant from the banking sector in the Olivia Star building in Gdańsk,

• new lease agreement for 8,600 sq m in Grundmann Office Park A in Katowice, leased by Warta.

Office markets in numbers

According to the PINK report, the largest office markets in Poland (after Warsaw) remained:

• Kraków – 1,842,300 sq m,

• Wrocław – 1,337,600 sq m,

• Tricity – 1,067,000 sq m

In the analyzed period, one office building with an area of ​​2,500 sq m was put into use – Bukowska 144 in Poznań, built by a private investor.

Less vacancy

At the end of December 2025, approximately 1,138,800 sq m of office space was available for immediate lease in eight major regional markets, which corresponds to a vacancy rate of 16.9%. (a decrease of 0.8 pp compared to the third quarter of 2025 and 0.9 pp compared to the same period of 2024).

The Chamber indicates that the highest percentage of vacant space was recorded in Katowice – 21.6%, and the lowest in Szczecin – 6.4%.

Rental and transactions in the fourth quarter

According to PINK, the total volume of lease transactions registered in the fourth quarter of 2025 was 249,300 sq m, which is an increase of 84%. higher compared to the previous quarter and by 13%. higher compared to the same period in 2024.

Most office space was leased in:

• Wrocław – 75,600 sq m,

• Kraków – 65,700 sq m,

• Tricity – 41,800 sq m

– In the fourth quarter of 2025, renewals of current lease agreements recorded the largest share – 48%. – in the transaction volume. New contracts accounted for 42%, expansions 9%, while space used for the needs of building owners accounted for 1%. total tenant activity – we read in the PINK press release.