Tuesday, 21 October 2025
The final quarter of the year has once again emerged as the busiest period for Poland’s office property market. According to market commentary and data reviewed by Colliers, nearly one-third of all annual office leasing transactions are typically completed between October and December. The trend reflects a combination of business cycles, budget deadlines, and the natural timing of decision-making in corporate real estate.
In Warsaw and across regional cities, deal-making momentum tends to build through the year as companies finalise their space strategies. Many negotiations launched in the spring and summer conclude in the final months, when tenants seek to secure premises ahead of the new fiscal year. “The fourth quarter is when the office market picks up speed. It’s a time to act decisively, to read market signals and plan effectively for the next cycle,” said Paweł Proński, Director of the Office Space Department at Colliers.
Data from Colliers’ Q1 2025 Office Market Report indicate that total leasing activity across Poland reached roughly 337,000 square metres in the first quarter, including 160,500 square metres in Warsaw, where vacancy stood at 10.5% at the end of March. While early-year volumes were steady, they typically rise in the latter half as companies accelerate relocation and renewal plans. The pattern has remained consistent for much of the past decade, according to both Colliers and Focus on Business analyses.
In contrast, the delivery of new office projects follows a different rhythm. Developers most often complete projects in the second quarter, when weather and construction conditions are favourable and regulatory processes are less congested. Historical data show that a majority of annual completions occur in the first half of the year, leaving fewer new projects entering the market toward year-end. “This schedule reflects the construction cycle,” noted Anna Laskowska, an analyst at Colliers. “The spring and summer months are optimal for finishing works and technical acceptance, while developers tend to avoid the holiday period at the end of the year.”
This seasonal imbalance between supply and demand creates practical implications for both tenants and landlords. When new buildings enter the market in the spring, tenants often have more choice and can negotiate favourable lease terms. Later in the year, when activity peaks and available space tightens, competition intensifies. As a result, developers are advised to plan pre-let strategies in anticipation of Q4, when tenant decision-making is at its most active.
Despite macroeconomic headwinds and a cautious investment climate, the underlying demand for modern, sustainable office space remains stable. Tenants continue to focus on high-quality, energy-efficient buildings that can attract and retain staff while supporting ESG targets. Analysts note that the fourth quarter of 2025 is expected to follow the established pattern: a strong close to the year as companies finalise leasing deals and prepare for an evolving office landscape in 2026.
Source: Colliers
