The vacancy rate in the Warsaw office market reached a record low of 2.4% in the first quarter of 2008, according to figures released by the Warsaw Research Forum, a group of six real estate market research and analysis specialists. The highest vacancy rate, 5.6%, was seen in the city centre while a 3.9% vacancy was recored in the southeast portion of the Warsaw office market while the vacancy rate in the Mokotow area of the city in the upper south decreased to 1.4%. The vacancy level in the north zone of the market is zero.
The vacancy rate in the Warsaw office market reached a record low of 2.4% in the first quarter of 2008, according to figures released by the Warsaw Research Forum, a group of six real estate market research and analysis specialists. The highest vacancy rate, 5.6%, was seen in the city centre while a 3.9% vacancy was recored in the southeast portion of the Warsaw office market while the vacancy rate in the Mokotow area of the city in the upper south decreased to 1.4%. The vacancy level in the north zone of the market is zero.
In the first quarter of the year, leasing activity in the Warsaw office market reached the level of 106,540 m2, the Warsaw Research Forum figures showed, representing 21% of all take-up in 2007. The highest level of take up was seen once again in the Mokotow region.
Four new buildings were delivered to the market in the quarter, offering a total of 68,630 m2. The vast majority of this space, or 58,400 m2 were in the upper south.
The Warsaw Research Forum is composed of analysts and researchers from CB Richard Ellis, Cushman & Wakefield, DTZ, Jones Lang LaSalle, King Sturge and Colliers International.
