Wednesday, 18 February 2026
Office markets in Poland’s main regional cities recorded increased leasing activity and limited new development in 2025, according to the “Regional Office Markets 2025” report published by AXI IMMO. Total take-up in Kraków, Wrocław, the Tricity, Katowice, Łódź, Szczecin and Lublin reached approximately 770,000 square metres, while new supply fell to about 20,000 square metres. Modern office stock across these markets amounted to 6.72 million square metres, and the average vacancy rate declined to 16.9 percent, marking the first year-on-year decrease in several years.
AXI IMMO analysts indicate that tenant decisions are increasingly long-term and quality-driven, with greater emphasis on energy efficiency, accessibility and flexible layouts. Net take-up totalled around 370,000 square metres, including new leases, expansions and owner-occupied space. Among the largest transactions were Shell’s lease renewal of nearly 23,000 square metres at the DOT Office complex in Kraków and Motorola Solutions’ re-leasing of more than 17,000 square metres at Green Office in the same city. One of the larger new agreements was Warta’s lease of approximately 8,600 square metres at Grundmanna Office Park A in Katowice.
“In 2025, companies increasingly focus on office efficiency — optimising leased space and seeking locations that offer strong connectivity, access to services and the ability to scale operations flexibly. In many cities, we observed growing interest in higher-standard buildings, reflecting a broader trend of modernising office stock. Tenant activity was strongest in the fourth quarter, which accounted for 32% of the annual leasing volume. Renegotiations and renewals accounted for 52% of total activity. The highest leasing volumes were recorded in Kraków, Wrocław and Tricity, while IT, business services and manufacturing remained the most active take-up sectors,” said Emilia Trofimiuk, Research Manager at AXI IMMO.
The limited volume of new completions was linked to higher financing costs and cautious development strategies. The largest building delivered during the year was the Stella Office project in Kraków, providing close to 10,000 square metres. At the same time, approximately 240,000 square metres of office space remained under construction, primarily in Poznań and Kraków, with most projects scheduled for delivery in 2026.
The reduction in development activity contributed to a moderate decline in vacancy rates across regional markets. Katowice and Wrocław reported the highest availability levels, while Szczecin and Lublin recorded the lowest. Despite these differences, asking rents in most cities remained broadly stable, generally ranging between €8 and €18.50 per square metre per month.
“Katowice and Wrocław continue to record the highest vacancy rates among regional cities. In contrast, Szczecin and Lublin stand out with the lowest availability levels, which translates into narrower rental ranges and greater rent stability,” Trofimiuk added.
Looking ahead, AXI IMMO expects leasing volumes in regional markets to remain relatively stable, with potential shifts in tenant structure. “In the coming years, we expect take-up across regional markets to remain stable, although its sectoral structure may gradually evolve. The share of BPO/SSC companies may decline, while manufacturing and consumer-driven sectors are likely to gain importance. This diversification of take-up sources may enhance regional markets’ resilience to economic fluctuations and contribute to a more balanced distribution of tenant activity across cities. At the same time, the limited pipeline of new development projects and the growing importance of flexible lease formats, such as serviced offices and coworking, will shape the structure of available supply in the medium term. Owners of assets with higher vacancy levels are increasingly analysing alternative use scenarios, including residential, student housing or medical conversions, which may further contribute to qualitative supply selection across regional markets,” said Karolina Słysz, Head of Regional Markets, Office Agency at AXI IMMO.
According to the report, regional office markets are expected to continue operating with limited new supply in 2026. Combined with steady demand, this may result in further gradual vacancy declines, with leasing activity driven mainly by small and medium-sized tenants and a continued prevalence of lease renewals and renegotiations.
