How will the war in Ukraine affect the office rental market in Poland? - Mariusz Bres, Lim Center Board Member
As a result of the Covid-19 pandemic, the past two years have not been easy for the office rental market. The growing popularity of remote work and increased operating costs have caused many companies to downsize their offices or abandon them altogether.
According to the report"Office Occupier: Warsaw Office Market 2021" produced by Newmark Polska, the end of the year brought a long-awaited level of stability.
The first quarter of the year has just come to an end. We asked Board Member of LIM Center, Mr. Mariusz Breś, to summarize these first months of 2022 and to provide a prognosis for the upcoming months:
„The growth potential in Poland continues. This may seem surprising given the war-taking place just across our border. Some of the observers expected that it would force companies to be cautious and result in the market cooling down. In fact, we can note a contrary trend. It is strongly influenced by growing phenomenon of relocation of businesses from eastern countries. It causes an increased interest in renting and buying office properties in our country.
Furthermore, it seems that the situation has not discouraged Western investors. According to the American Chamber of Commerce, the participation of capital from the U.S. is steadily increasing in our country, especially in knowledge-based business services sectors. This necessarily means an increase in demand for office space.
W związku z tym spodziewamy się, że ceny wynajmu biurowego w naszym kraju powinny się utrzymać a w lokalizacjach centralnych nawet wzrosnąć.”
