2026-02-04-莱坊-Warehouse_market_Warsaw_Q4_2025_8页_1mb

Summary of Warsaw's Office Market and Investment Attractiveness (Q4 2025)

Core Content

Warsaw's office market and investment environment in Q4 2025 are characterized by strong demand, limited supply, and a focus on sustainability and skilled labor. The city is also recognized for its quality of life, educational infrastructure, and transport systems, making it an attractive destination for businesses and residents.

Main Points

Office Market Performance

• Office Stock: As of the end of 2025, the total office stock in Warsaw reached 6.23 million sq m, with the largest share (46%) located in central zones.
• Supply Under Construction: Only 189,000 sq m of office space was under construction, with 90% located in central areas. Over 54% of the pipeline is expected to be delivered in 2026.
• Vacancy Rate: The vacancy rate dropped to 9.1%, the lowest in over five years, driven by strong demand and limited supply.
• Take-Up: Total take-up in 2025 reached 794,000 sq m, a 7% increase compared to 2024. The final quarter saw the highest quarterly take-up ever recorded.
• Leasing Activity: Renegotiations accounted for 51% of total demand, indicating tenants' cost sensitivity. New leases made up 40% of total volume, while lease extensions and owner occupier deals represented 6% and the rest, respectively.
• Green Certifications: 67% of existing office stock has green building certifications, with 73% of the space leased in 2025 being in certified buildings. High standards such as BREEAM Excellent/Outstanding and LEED Platinum dominate.

Rent and Service Charge Trends

• Headline Asking Rents: Remained stable in Q4 2025. In central areas, rents ranged from EUR 18-32/sq m/month, with prime buildings exceeding this. Outside the city centre, rents ranged from EUR 12-18/sq m/month.
• Service Charges: Stayed stable, ranging from PLN 18-38/sq m/month.

Submarkets Overview

Investment Attractiveness

• Rankings: Warsaw ranked 1st in several key categories, including "Shared Mobility Friendly Cities in Poland 2024", "European Cities and Regions of the Future 2025" in Business Friendliness and Human Capital and Lifestyle, and "Best European Capital of MICE & Leisure 2026".
• Investment Support: Offers individualized approach, assistance at every investment stage, back office support, and access to public aid information.
• Office Space Support: Includes information on municipal real estate, location selection, and cooperation with real estate agencies.
• Recruitment Support: Collaborates with academic institutions and HR agencies to attract skilled professionals.

Quality of Life

• Cultural and Recreational Facilities: Warsaw has 104 museums and art galleries, 35 theatres and music institutions, 38 cinemas, 2,729 food service establishments, 385 outdoor gyms, 37 swimming pools, 15 ice rinks, and 11 beaches.
• Public Transport: 90% of residents rated public transport as "good" or "very good". The city has 2 metro lines, 5 Szybka Kolej Miejska lines, 285 bus lines with 1,430 low-floor vehicles, 25 tram lines, and over 3,300 city bikes with 330 bike stations.
• Green Areas: Cover 47% of the city.

Education and Workforce

• Number of Students: 261,331
• Number of Graduates: 49,870
• Number of Universities: 68
• Energy Sector Trends: The energy market is undergoing transformation, especially in renewables, energy storage, and offshore projects. Demand for specialists is high, with salaries ranging from PLN 14,000-15,000 (gross) for engineers to PLN 35,000 for senior roles.
• Skills Gap: Education in Poland is lagging behind the energy transition, particularly in offshore projects. Technical universities are only beginning to adapt curricula.

Key Information

• Population: 1,862,402 (as of 30.06.2024)
• Population Forecast: 2,132,000 (2030), 2,249,000 (2050)
• Migration Balance: (+4,390) (as of 2024)
• Unemployment Rate: 1.6% (as of 11.2025)
• GDP Growth: 14.9% (2023)
• GDP per Capita: PLN 217,793 (2022)
• Average Salary (Gross): PLN 10,791.55 (in the business sector, as of 11.2025)

Conclusion

Warsaw continues to be a strong and attractive investment destination, supported by a robust office market, a growing and skilled workforce, and a high quality of life. Despite a skills gap in the energy sector, the city's investment incentives and support systems are helping to maintain its competitive edge. The market's stability and focus on sustainability are key factors in its continued appeal to businesses and professionals.