Friday, 8 May 2026
Regional office markets across Poland recorded slower leasing activity in the first quarter of 2026, while new office supply remained limited, according to data from AXI IMMO.
At the end of March, the total stock of modern office space across the country’s eight main regional markets; Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Lublin and Szczecin, reached more than 6.76 million sqm. Kraków remained the largest regional office market with 1.85 million sqm, followed by Wrocław with 1.36 million sqm and the Tri-City with 1.07 million sqm.
Developers completed five office schemes during the quarter, delivering a combined 47,200 sqm of new space. Major completions included Swobodna SPOT in Wrocław with 14,600 sqm, Punkt in Gdańsk with 12,700 sqm and Fabryczna Office Park B7 in Kraków with 8,400 sqm. According to AXI IMMO, development activity remains selective and concentrated on projects aligned with current occupier demand.
“Data for the first quarter of 2026 show that regional office markets are entering the year with limited new supply but still relatively high levels of available space. An elevated vacancy rate intensifies competition between buildings and requires greater flexibility for landlords,” said Emilia Trofimiuk, Research Manager in the Research and Analysis Department at AXI IMMO.
Vacancy levels continued to rise slightly during the quarter. Around 1.18 million sqm of immediately available office space was on the market at the end of March, resulting in an average vacancy rate of 17.4 percent. This represented an increase of 0.5 percentage points quarter-on-quarter, although vacancy was marginally lower year-on-year.
Katowice and Wrocław recorded the highest vacancy rates at 22.1 percent and 22 percent respectively, while Szczecin had the lowest availability level at 7.9 percent.
Tenant activity slowed significantly during the quarter. Total leasing volume reached 121,500 sqm, down 51 percent compared with the previous quarter and 30 percent lower year-on-year. The Tri-City generated the highest take-up at 49,500 sqm, followed by Wrocław with 25,500 sqm and Kraków with 16,700 sqm.
“The decline in leasing volume on both a quarterly and annual basis confirms that tenants are approaching decision-making with greater caution. We observe a clear concentration of demand in prime locations and projects offering high-quality and competitive occupancy costs,” said Karolina Słysz, Head of Regional Markets, Office Agency, at AXI IMMO.
New leases accounted for 51 percent of total take-up during the quarter, while renewals represented 37 percent. Expansions made up 11 percent of leasing activity and owner-occupier deals accounted for the remaining 1 percent.
“The sustained predominance of new leases within the take-up structure indicates that some companies remain actively engaged in office searches, although decision-making processes are now longer and more selective. Tenants are placing increasing emphasis on location, building standards and operating expenses,” added Emilia Trofimiuk.
Among the largest transactions completed during the quarter was the renewal of a 13,000 sqm lease by an undisclosed business services company in two buildings at the Business Garden complex in Wrocław. Another major deal involved Adtran renegotiating a 6,800 sqm lease in the Tensor Y building in Gdynia.
Karolina Słysz said high vacancy levels, particularly in older office buildings, are expected to support further lease renegotiations in the coming quarters, while newer and more efficient office projects should continue to attract tenant demand.
AXI IMMO noted that the regional office sector remains in a period of adjustment, characterised by limited new supply, elevated vacancy and more selective occupier activity, increasing competition among landlords across Poland’s regional cities.
