Solid office demand creates drop in vacancy rate throughout Poland

2018 was a year of economic prosperity for Poland, with estimated GDP growth at 5.3 percent, the best result since 2007, according to JLL. This was a key factor in the healthy demand for office space and the high construction activity. One of the most interesting trends was the dynamic growth of flexible work spaces.

Last year’s demand for office space was 1.5 million square meters (16.1million square feet). 744,000 square meters (8 million square feet) of office space was delivered to market, while a further 1.6 million square meters (17.2 million square feet) is under construction.

“The increase of the flex sector is a result of start-ups developing at an enormous pace, and the excellent conditions for business in Poland,” said Karol Patynowski, director of regional markets, JLL. “According to a ranking by CEOWORLD Magazine, Poland ranks seventh in the world and third in Europe for the friendliest market for conducting business of this type. A natura