Prime Polish offices: High demand, low supply, soaring rents

A shrinking supply of new office space, intense competition for prime locations, and the widespread adoption of hybrid work are pushing the Polish office market into a new phase. 

Magdalena Zagrodnik

Warsaw, in particular, has very limited modern office space in prime areas, with premium city-centre offices being exceptionally scarce, according to Magdalena Zagrodnik, partner, Board Member at Walter Herz.
Factors like location, transport access, building quality, and surrounding services are now more critical than just financial costs.
Competition for office space is highest in Warsaw. Companies that don't plan often face choosing between renegotiating their current lease or moving outside the city centre. 
Regional cities show more diverse vacancy rates, but genuine choice is mainly for smaller spaces (up to 5,000 m2). Larger modern offices are rare, and modules over 10,000 m2 are almost nonexistent. Consequently, many businesses are renegotiating existing leases.
High construction and financing costs, alongside current rental rates, make new projects less profitable, leading to low development activity. In 2025, only 110,000 m2 of new office space was delivered across Poland (the lowest in two decades). Future supply for 2026 and 2027 is also projected to be very low.
The dwindling availability is pushing up rental rates, especially in prime locations. Premium office space in Warsaw's city center can now exceed €30 per m2 per month. 
Despite limited supply, demand for office space remains robust. In 2025, both Warsaw and major regional cities saw strong leasing activity. Companies are prioritising high-quality office space in prime locations, leading to increased competition for the most attractive options.
Businesses are also focusing on space efficiency, optimising floor areas, and seeking locations with excellent transport links and diverse services. 
Many companies seeking large offices in Warsaw or Krakow must consider pre-leasing and waiting for new projects to complete.
Growing competition means tenants are increasingly willing to pay higher rents for top-quality spaces, a trend observed in Warsaw, Krakow, and Poznan. This, combined with limited new supply, will likely continue driving rent growth. 
Hybrid work will remain the standard. Office attractiveness will be increasingly defined by user comfort, spatial flexibility, and functional/social integration that promotes collaboration and culture.