According to “Office Occupier – Office Market in Wrocław”, a report published by real estate advisory firm Newmark Polska, the capital of Lower Silesia is the third-largest office market in Poland, after Warsaw and Kraków. In 2024, leasing activity in Wrocław continued at a steady level, surpassing the ten-year average, with the IT, business services and manufacturing sectors accounting for the largest share of total office take-up, at nearly 70%. Both new office supply and development activity remained low, primarily due to the significant availability of office space in existing buildings.
At the end of the fourth quarter of 2024, Wrocław’s office stock stood at nearly 1.4 million sqm, representing a year-on-year increase of approximately 2%. New office completions last year totalled 38,350 sqm across just three developments, including Quorum Office Park A (18,200 sqm, the North/East zone) and B10 (14,100 sqm, the Legnicka/Strzegomska zone).
“This marked the second-lowest level of new supply since 2012, with only 2021 recording a lower figure of nearly 22,000 sqm. In 2025, new office deliveries are expected to remain at last year’s level, reaching just over 34,000 sqm, assuming all planned projects come to fruition as scheduled,” says Karol Wyka, Executive Board Director, Head of Office Department, Newmark Polska.
These low levels of new office supply are primarily due to a downturn in construction activity. At the end of December 2024, the total development pipeline stood at 34,350 sqm, marking a decline of over 50% compared with 2023 and the lowest volume in the history of the Wrocław office market. With office availability in existing buildings remaining high, development activity is expected to remain constrained in the near future. However, developers continue to monitor the Wrocław market closely and are prepared to launch new projects at short notice.
Wrocław has for years been an attractive destination for many international companies, particularly in the business services sector. According to data from the ABSL, in the first quarter of 2024 the city had 234 business service centres employing 66,200 staff.
“With companies remaining strongly attracted to the capital of Lower Silesia, annual take-up has consistently exceeded 110,000 since 2015. In 2024, leasing activity surpassed 146,450 sqm, representing an 11.5% year-on-year decline but a rise of over 4% compared with the ten-year average of 140,500 sqm. Tenants have traditionally shown the strongest preference for office zones such as Legnicka/Strzegomska, Main Station/Powstańców Śląskich, and the City Centre and Old Town. In 2024, these three zones together accounted for nearly 75% of total office take-up,” says Anna Domańska, Associate, responsible for the Lower Silesia region at Newmark Polska.
As witnessed across Poland, Wrocław’s office leasing activity in 2024 was also dominated by lease renegotiations and renewals which made up 57% of all transactions. The remaining 43% came from new leases (36%), owner-occupier deals (5%) and expansions (2%). Notably, 69% of last year’s total office take-up was generated by three sectors: IT, business services and manufacturing, each contributing 37%, 18% and 14% respectively.
At the end of December 2024, Wrocław’s vacancy rate stood at 19.3%, down by 0.4 pp from the third quarter of 2024 but up by 1.1 pp year-on-year.
“Subdued development activity and the ongoing absorption of existing office space are expected to push the vacancy rate steadily lower in the coming quarters. At the end of last year, Wrocław had nearly 266,000 sqm of ready-to-occupy office space, with over 80% located in the city’s key office zones: Legnicka/Strzegomska, Main Station/Powstańców Śląskich, and North/East,” adds Anna Domańska.
During the fourth quarter of 2024, Wrocław’s headline office rents stood at EUR 13.00-16.50 per sqm per month, with the highest, up to EUR 21.00, recorded in its central zones (Old Town and the City Centre). By contrast, some office buildings in the South and North/East zones commanded lower rents, below EUR 12.00 per sqm per month. Looking ahead, headline rents are broadly expected to remain unchanged in the coming quarters.
“Slight upward movements of rents are likely in the most sought-after prime locations and in buildings featuring advanced technological and sustainable solutions, as only 20% of vacant office stock – just under 55,000 sqm – is in high-quality office buildings completed in the last five years,” says Agnieszka Giermakowska, Research & Advisory Director, ESG Lead, Newmark Polska.
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