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Lublin’s total office stock remained unchanged at the end of June 2019, flatlining at 191,200 sq m. Despite the lack of new supply, occupier activity was healthy, which pushed the city’s vacancy rate down to 10.6%, representing a 9.1 pp decrease year-on-year.
Nearly 70,200 sq m of office space is currently under construction on Katowice’s office market, say analysts of global real estate services firm Cushman & Wakefield. Of the six projects underway, the largest is Face2Face Business Campus, comprising two phases with a total of 46,800 sq m.
Global real estate services firm Cushman & Wakefield has published the full version of its Marketbeat report on the Polish industrial market in the first half of 2019. The market remains in very good health, with warehouse supply setting a new high in H1 2019, robust occupier activity and low vacancy rates.
Occupier demand for office space in Warsaw has been largely driven by financial, insurance and IT sectors for several years now. In response to the growing occupier interest in office buildings in the city centre, developers have stepped up development activity, with nearly 850,000 sq m scheduled for delivery by the end of 2021 through projects currently in the pipeline. The healthy balance between demand and supply in Warsaw at the end of H1 2019 kept the city’s vacancy rate and rents largely unchanged compared to the end of 2018. Global real estate services firm Cushman & Wakefield presents findings from its full report “MARKETBEAT Office Market in Warsaw. Summary of H1 2019”.
The all-sector European Fair Value Index score was 24 in Q1, up from the Q4 figure of 16, reflecting an improvement in the attractiveness of prime opportunities across Europe.