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According to Savills, preliminary data for European office markets for Q3 2021 shows take-up had increased 15% year-on-year, although still below the five-year average. Positive office market data is also provided by Google’s mobility index, with Warsaw leading the way among surveyed European capital cities.

Real estate advisory firm Savills has been appointed as the leasing agent for office space in Karolkowa Business Park, located in Warsaw’s Wola district.

Vastint has expanded its offer with a new business solution Ready Flex — the rental of autonomous, fully furnished office space for small and large companies or their teams in a flexible option of short-term contracts.

The construction of over 800 living units has started at the intersection of Postępu and Domaniewska Streets in Warsaw. The project has been developed by YIT for the leading Nordic real estate investor NREP. Unibep has been chosen as the general contractor. Smartti Mokotów will be the largest professionally run lease facility in Poland.

Rising construction costs and strong demand from investors are at play, of course, but the picture is a lot more complicated than that. Players of the dynamically growing private rental sector (PRS) discussed market trends at Living Investment Forum 2021, Property Forum's annual event in Warsaw. 

Adventum Investment Fund Management, the CEE-focused real estate investment manager, has completed the second close of its latest fund, Penta in October 2021. The second acquisition of the Fund is the Mercedes Benz Headquarters in Warsaw which was developed in 2004 by the Daimler Group.

Savills has been instructed as the exclusive leasing agent for Crown Square, an office building at 31 Przyokopowa Street in Warsaw’s Wola district, right next to the Rondo Daszyńskiego metro station.

Pan-European logistics platform Crossbay has purchased 100,000 sqm of warehouse space in two sites in Warsaw and Łódź. Both sites were acquired from Panattoni Europe, a developer of logistics and industrial space, for an undisclosed sum

CA Immo has signed a lease extension agreement in the Warsaw office building Postępu 14. AstraZeneca Pharma Poland has decided to stay in the building for another 5 years and lease an additional 3,000 sqm of modern workspace. Consequently, the seat of AstraZeneca Pharma Poland in Warsaw will amount to ca. 21,000 sqm, which represents more than 60% of the building’s entire area.

Companies have signed more new leases agreements and are keen to use ''flex'' spaces before taking up their target office space. The decreasing activity of developers has helped to stabilise the vacancy rate q-o-q, but its high level poses a challenge for landlords. JLL summarizes the Warsaw office market at the end of Q3 2021.