Rental declines in office buildings
The COVID-19 epidemic has strongly stirred up the Polish office market. More vacancies and falling rents are to be expected
What is the situation on the office space market?
The need to work remotely is likely to have a significant and long-term impact on office rents. Experts predict that the price drop will be mild, but stretched over time. They also predict that the home office model will continue even after the pandemic ends.
Analysts say that vacancy supply will increase. They predict that Kraków and Tricitywill be in the worst situation. Warsaw is likely to fare slightly better. However, it is worth following the experts’ forecasts.
There is a high risk of a slowdown in the office space market. That’s why specialists associated in Polish Chamber of Commercial Real Estate demand inclusion of this sector in government support programs. Otherwise, the owners will not show flexibility towards tenants. Further demand for offices will be influenced by the specifics of each company and the location of operations