International advisory company, JLL, presented its report summarizing the second quarter of 2014 and analyzed key trends on Poland’s office market. In Q2 the most active market in terms of tenant demand was Katowice.
In H1, 189 000 sq. meters of modern office space was leased in regional office markets. The biggest transaction in Q2 was the 6 500 sq. meters renewal by UPC in Green Park in Katowice. In total, there were leased 22 000 sq. meters of space in the City during the second quarter.
The vacancy rate in Katowice went up slightly comparing to the end of Q1 2014 when it stood at 5,6%. At the end of Q2 7,5% of the Katowice’s modern office stock remained vacant.
H1 2014 brought 123 100 sq. meters of new office space to the market outside Warsaw. The leading cities were Katowice (which accounted for 24% of all completions), the Tri-City and Kraków (each with 20%). In Q2, the major new delivery on the Katowice office market was the second phase of GPP Business Park (7 500 sq. meters).
The average headlines rents remain highest in Kraków (EUR 13,7 to 14/sq.m/month) and Katowice (EUR 12,5 to 13,75/sq.m/month) and lowest in Lublin (EUR 10/sq.m/month), according to JLL.