According to “Office Occupier – Office Market in Regions”, a report published by real estate advisory firm Newmark Polska, 2025 was a year of records for regional office markets, with new supply falling to a historic low and occupier activity reaching an all-time high. While renegotiations remained the primary driver of regional take-up, the final quarter saw the first decline in vacancy since the beginning of 2025. Key factors influencing tenants’ choice of offices were building quality and location, as well as the suitability of space for individual needs.
At the end of 2025, the combined office stock of Poland’s eight key regional cities (Kraków, Wrocław, Tricity, Katowice, Poznań, Łódź, Lublin, and Szczecin) stood at just over 6.72 million sqm, having contracted by approximately 1% – line with the trend seen in Warsaw. New office deliveries in 2025 totalled just under 20,550 sqm across five projects, none of which exceeded 10,000 sqm. The largest office completion during the year was the 9,900 sqm Stella Office in Kraków.
“Last year’s new supply was more than 83% lower than in 2024, marking an all-time low since records began for Poland’s regional markets. The office development pipeline remains low. At the end of December 2025, office space under construction totalled approximately 217,000 sqm. The highest concentration of development activity was in Poznań and Kraków, which together accounted for 60% of all projects underway in regional cities,” says Karol Wyka, Executive Board Director, Head of Office Department, Newmark Polska.
In 2025, construction commenced on only six office projects with a combined area of just under 56,000 sqm, indicating that developers remained primarily focused on leasing existing buildings. Notably, 46% of the development pipeline, or 25,750 sqm, is being delivered in Nowy Rynek C in Poznań.
Leasing activity in regional office markets hit record levels in both the fourth quarter of 2025 and the year as a whole. In the three months to December, take-up exceeded 249,300 sqm, up over 84% quarter-on-quarter and more than 13% year-on-year.
“Total leasing volume in January-December 2025 reached over 772,550 sqm, marking the highest annual result recorded in Poland’s regional cities. Quality is becoming an increasingly important factor amid the ongoing bifurcation of the office landscape between modern buildings attracting tenants relatively quickly and older schemes requiring upgrades or repurposing,” adds Karol Wyka.
In 2025, similarly to the previous year, take-up was dominated by renegotiations and renewals, which accounted for more than 52% of total leasing activity. The remaining 48% was spread across new leases (36%), expansions (7%), owner-occupier deals (3%) and pre-lets (2%). The most active tenant sectors were IT (17.3% of total take-up), business services (16.2%) and manufacturing (15.5%).
Leasing activity in Kraków hit a new record in 2025, with 269,500 sqm transacted, representing nearly 35% of total regional take-up. Wrocław came second with 179,600 sqm of lease transactions, followed by Tricity in third place with 113,850 sqm. Together, these three cities accounted for almost 73% of regional take-up.
At the end of December 2025, the overall vacancy rate in the key regional city office markets stood at 16.9%, down 0.8 pp quarter-on-quarter and 0.9 pp year-on-year. Vacancy rates were above 10% in all the regional cities except Szczecin and 18% or higher in four of the surveyed locations. The steepest year-on-year declines were recorded in Łódź (-4.4 pp) and Katowice (-1.7 pp).
At the end of the fourth quarter of 2025, total office availability in existing buildings amounted to approximately 1.14 million sqm.
“The highest vacancy levels are mostly in older office buildings, while available space in newer projects is being steadily absorbed. As a result, office markets are increasingly bifurcated, with modern office buildings seeing rising occupancy levels, while older stock that falls short of tenant expectations and ESG requirements faces growing challenges in attracting tenants,” says Agnieszka Giermakowska, Research & Advisory Director, ESG Lead, Newmark Polska.
Office rents remained stable across most regional cities throughout 2025. At the end of the fourth quarter, prime rental rates stood at EUR 16.00–18.00 per sqm per month. While rents in top-tier buildings and the most sought-after locations remained relatively high, landlords of older office properties competed primarily through lease incentives such as rent-free periods and fit-out contributions. Incentive packages continue to be an important factor when negotiating lease terms for both older office buildings and properties with high vacancy rates.
“Environmental considerations are also becoming increasingly important in occupier decision-making. Tenants are showing a growing preference for energy-efficient and ESG-compliant buildings, enhancing the competitiveness of such properties and increasing pressure on owners of older buildings to undertake upgrades,” comments Agnieszka Giermakowska.
