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This is a data and figures report published by Savills on September 30, 2025, presenting occupational office market data for Manchester in the third quarter of 2025.
UK commercial real estate investment volumes totalled £10.4 billion in Q3 2025, the lowest quarterly figure since Q4 2023, with year-to-date totals of £40 billion representing 3.9% growth over the same period in 2024. The MSCI UK Quarterly Property Index delivered a 1.4% total return for Q3 2025, marking the sixth consecutive positive quarter, with retail posting the strongest performance at 2% quarterly returns and 9.2% annualized returns, while institutional investor activity began showing signs of recovery across multiple sectors.
The Manchester Hotel Market Spotlight for the 12 months ending August 2025 reports that branded full-service hotels experienced declining profits with gross operating profit per available room down 13.4%, driven by a 4.0% revenue drop despite a 0.9% increase in average daily rate, while occupancy fell 6.9% to 71.0% amid 1.6% supply growth including 888 new rooms. Gross operating profit margin contracted by 2.7 percentage points to 24.4%, reflecting insufficient cost reductions to offset lower revenues and the impact of increased supply particularly in the Midscale and Upper Upscale segments.
Manchester's office market in H1 2025 recorded 581,542 sq ft of take-up across 102 transactions, representing 14% growth over H1 2024 and the largest first half since 2019, with Grade A and Prime space accounting for 57% of activity. Overall availability decreased to 2.9 million sq ft with a vacancy rate of 11.1%, while the TMT sector led activity with 42% of total leasing, and Prime headline rents reached £45 per sq ft with developers commencing speculative construction including Landsec's 243,000 sq ft Republic scheme in Mayfield.
The Stuttgart industrial and logistics real estate market recorded 45,500 square meters of transaction volume in the first half of 2025, representing a 29% decline from the previous year and 52% below the five-year average, with small-unit spaces accounting for 92% of transactions and 62% of total turnover. Prime rents stood at 8.50 euros per square meter and average rents at 7.20 euros per square meter, with demand concentrated in small-space segments while the absence of automotive sector demand and expiring leases are shifting the market toward a tenant-favorable environment with increased rental incentives.
BNP Paribas Real Estate's H1 2025 Investment Market report for Stuttgart documents commercial real estate transaction activity, finding approximately €183 million invested across the first half of 2025 (€71 million in Q1 and €112 million in Q2), representing 70% below the long-term average despite a marginal 2% year-over-year increase. Logistics assets dominated with 58.4% market share, office investments accounted for 30.6%, prime yields remained stable at 4.40% for office, 4.25% for logistics, and 3.85% for retail, while 69.4% of investment concentration shifted to the periphery driven by logistics deals, with no transactions exceeding €50 million completed.
The document analyzes Italy's office real estate market in the first half of 2025, reporting investment volumes of €900 million (up 15% year-over-year) with 29 deals, while Milan accounted for 79% of activity with prime rents at €750/sqm/year in the CBD Historic Centre. Milan's leasing market achieved 206,000 sqm take-up (up 17% year-over-year), marked as the second-strongest semester in five years, with occupiers increasingly favoring smaller flexible spaces under 1,000 sqm and Grade A space representing 77% of total leasing activity.
Glasgow's office market experienced record take-up of 439,367 square feet in 2024 across 126 transactions, driven primarily by the legal sector which accounted for 41% of professional sector activity, while the market faces acute supply constraints with only 0.8 years of prime office stock available and prime rents exceeding £40 per square foot. The document identifies emerging growth sectors including health tech, fintech, and creative industries alongside traditional strengths in engineering and professional services, with approximately 874 fast-growth private companies and £267 million in venture capital raised over recent years positioned to drive future office demand.
Dils' Q1 2025 analysis of the Italian real estate market reports total investments of approximately €2.7 billion, a 44% increase versus Q1 2024, with the Hospitality sector leading at €660 million and Logistics at €640 million. Rome's office market recorded take-up of 34,000 sqm with prime rent reaching €610/sqm/year, while Milan's office sector saw 105,000 sqm take-up and stable prime rent at €775/sqm/year, with national prime logistics yields declining to 5.30%.
This is a Q1 2025 data and figures report published by CBRE on March 31, 2025, covering logistics market metrics in Denmark with a specific focus on the Copenhagen market. The report belongs to the industrial sector category.
Stuttgart's industrial and logistics real estate market recorded 125,500 square meters of transaction volume in Q4 2024, representing a 40 percent decline year-over-year, with top rents rising 2 percent to €8.50 per square meter and average rents increasing 3 percent to €7.20 per square meter. Production and manufacturing accounted for 52 percent of demand, the majority of transactions occurred in properties under 3,000 square meters, and Ludwigsburg, Esslingen, and Rems-Murr-Kreis were the three leading submarkets by volume.
The report analyzes occupier market trends across four Dutch office markets in 2025: Amsterdam experienced a 14% decline in office take-up to approximately 180,000 sq m, driven by reduced demand for larger spaces and a shift toward units of 200-1,000 sq m, with availability remaining largely unchanged at 990,000 sq m (15.5% of total stock). The Hague saw a notable increase in demand with approximately 104,000 sq m leased (70% higher than 2023), primarily driven by the Central Government Real Estate Agency taking 77,000 sq m, while Rotterdam maintained steady take-up at 87,000 sq m and Utrecht achieved surprisingly strong demand at 115,000 sq m, well above 2023 levels, largely due to major leases from PGGM and De Volksbank.
Stuttgart's office rental market recorded 197,200 square meters in transaction volume during 2024, up 26 percent year-over-year, driven by large lettings exceeding 10,000 square meters and high public sector activity, though vacancy rose to 5.8 percent with divergence between central locations and peripheral districts. The investment market saw commercial transaction volume of 452 million euros in 2024, up 0.7 percent, with mixed-use properties accounting for 48 percent of deals and private investors/family offices representing the largest buyer group at 40 percent.
The Dutch Logistics Market Report 2025, published by Knight Frank, analyzes investment and occupier market trends, supply-demand dynamics, pricing, and future prospects for Netherlands logistics real estate. Key findings include investment volume recovery to approximately €3.25 billion in 2024, Tier 1 prime net initial yields compressing to 4.60%, approximately 4.75 million square meters leased in 2024, vacancy declining to a low 4.0%, and constrained supply driven by planning challenges and grid congestion restrictions limiting new construction.
This is a real estate market outlook report published by CBRE on December 31, 2024, covering investment opportunities and sector performance in Oslo, Norway for 2025, with coverage spanning office, multifamily, retail, and industrial sectors along with capital markets analysis.
This is a market report published by CBRE in March 2026 covering the office sector in Geneva, Switzerland for the first quarter of 2026.
Birmingham's office market recorded take-up of 143,464 sq ft in Q1 2026, with city centre deals totalling 106,724 sq ft across 24 transactions while out-of-town activity generated 36,470 sq ft in 6 deals. Prime rent reached £52 per square foot, representing 12% quarterly growth and 20% annual growth, vacancy remained at 11.4% (down 50 basis points year-on-year), and future supply is constrained with only 155,000 sq ft annually forecast for delivery over 2026–2028 compared to the historical average of 330,000 sq ft.
This is a market report published by Savills in December 2025 covering the office sector in Birmingham, UK.
Leeds office market take-up reached 625,646 sq ft across 105 transactions in 2025, with Grade A and Prime space accounting for 375,592 sq ft (60% of total take-up), while prime rent increased 18% to £46 per sq ft and overall availability fell to 886,513 sq ft with a 7.2% vacancy rate by Q4 2025. Public services, education, and health was the most active sector at 32% of take-up, led by National Rail's 108,576 sq ft acquisition at 2 Princes Square, and Savills forecasts headline rents will reach £58 per sq ft by 2030 based on revised projections.
Leeds office market take-up totalled 625,646 sq ft across 105 transactions in 2025, matching the five-year annual average and representing activity 9% above the five-year average, with Grade A and Prime space accounting for 60% of total take-up at 375,592 sq ft. Headline rents increased 18% year-on-year to £46 per sq ft in Q3 2025, with forecasts predicting 26% growth over the next five years to exceed £58 per sq ft by 2029, while total availability fell to 886,513 sq ft with a 7.2% vacancy rate, and public services, education and health remained the most active sector at 32% of take-up.
This Knight Frank Q3 2025 report examines occupier and investment market trends in the West Yorkshire and Humber logistics and industrial sector, finding that year-to-date take-up stands at 1.8 million square feet with a vacancy rate of 7.5% and prime rents at £10.00 per square foot in Leeds. The occupier market saw modest Q3 activity but strong pipeline momentum, with demand concentrated in 50,000–100,000 square foot units comprising half of all year-to-date take-up, while the investment market strengthened in Q3 with prime industrial yields in Leeds at 5.25% and portfolio transactions expected to dominate the second half of 2025.
Savills Research reports that Leeds office take-up in Q1–Q3 2025 totalled 482,286 sq ft across 78 transactions, representing 12% above the five-year average and 57% Grade A and Prime space, with the Public Services, Education & Health sector accounting for 34% of leasing activity. Total availability at end-Q3 2025 reached 979,103 sq ft with a vacancy rate of 8.0%, while prime rent established a new headline of £46 per sq ft in Q3 2025, up 18% year-on-year, with forecasts predicting growth to over £51 per sq ft by 2029.
This is a data and figures report published by Savills on 30 September 2025 presenting occupational office market information for Leeds in the third quarter of 2025. The report covers the office sector in the Leeds area within the UK.
This is a data-figures report published by Savills on June 30, 2025, presenting occupational office market data for Leeds covering the first half of 2025.
Cushman & Wakefield's Netherlands Retail Q4 2025 MarketBeat report covers the investment and occupier markets, documenting retail investment volume reaching nearly €1.3 billion in 2025 with activity driven by mid-sized transactions while larger deals were postponed due to capital market uncertainty and geopolitical tensions. The report finds that retail volume sales increased approximately 2% year-on-year supported by resilient consumer demand, with high streets accounting for roughly a quarter of total retail investment volume and sports brands maintaining active expansion while the drugstore segment faces intensified competition and pricing pressure.
The Netherlands industrial market recorded approximately 3.8 million square meters of take-up in 2025, with logistics continuing to dominate investment activity at around €2.5 billion in total investment volume, though pricing misalignment between buyers and sellers continues to constrain transaction volumes. The occupier market shows strong demand for high-quality properties in core locations with structurally low vacancy rates, while secondary markets face higher vacancy and increasing rental discounts, with prime yields at 4.75% and prime rent at €125 per square meter annually.
The Cushman & Wakefield Netherlands Living Q4 2025 report analyzes the Dutch residential investment and occupier markets, noting that full year 2025 investment volume increased 22% to approximately €5.7 billion, with 2026 expected to see strong growth following a January 2026 transfer tax reduction for investors, while gross prime yields are stabilizing around 4%. The occupier market faces a persistent structural shortage of approximately 395,000 housing units across both owner-occupied and rental segments, with average transaction prices at €502,000 and continued upward pressure on rents driven by reduced rental supply and high demand, particularly benefiting wealthier first-time buyers in urban apartment segments.
In the first three quarters of 2025, €1.5 billion was invested in the Dutch industrial and logistics real estate market, with 79% allocated to logistics, and the sector accounted for approximately 21% of total Dutch commercial real estate investment, with solid transactions occurring particularly in the €20 to €70 million range. The industrial occupier market recorded total take-up of 2,351,000 sq m in the same period, with strong demand for high-quality properties in core markets but very low vacancy levels there, while secondary locations showed higher vacancy rates and less occupier interest.
Cushman & Wakefield's Q3 2025 Netherlands retail market report shows that investment volume reached €877 million, 56% higher year-over-year, though growth slowed during summer months, while the occupier market experienced renewed high-street sales growth and declining vacancy at 6.3% despite retailers managing elevated costs. The report identifies wide bid-ask spreads, foreign capital constraints due to tax issues, and limited high-quality supply as key challenges, while noting strong demand for convenience retail and retail parks, and opportunities for discounters as the mid-price segment continues to disappear.
In the first half of 2025, Netherlands retail investment volume reached €750 million, more than doubling compared to the first half of 2024, with the out-of-town segment rising from €20 million in Q1 to over €117 million by Q2, driven partly by French SCPI fund activity. The occupier market showed discounters expanding in high streets at the expense of mid-price retailers, sports brands moving into larger stores to offer flexible layouts, and foreign drugstore brands entering the Dutch market while established players remained inactive due to high rental costs.
In the first half of 2025, €980 million was invested in the Dutch industrial and logistics real estate market, with 72% allocated to logistics; the occupier market showed modest 4% growth in take-up compared to H1 2024, reaching approximately 1,610,000 sq m, while total supply grew 8% year-on-year driven by large-scale logistics facility completions. Prime rents stood at €125 per sq m annually, the prime yield (GIY excluding buyers' costs) was 4.90%, and the market is characterized by tight supply and rising rents in logistics hotspots contrasted with rising vacancy rates at secondary locations.
This is a market data report published by CBRE on March 31, 2026 presenting office sector figures for Krakow, Poland in the first quarter of 2026.
This Cushman & Wakefield MarketBeat report covers Poland's residential sector in Q1 2026, analyzing economic fundamentals including GDP growth of 4.0% year-on-year, inflation at 3.0%, mortgage demand surging 80.5% annually, and average flat prices in Warsaw reaching PLN 19,253 per sqm on the primary market and PLN 18,526 per sqm on the secondary market. The report documents new housing starts of 30,886 units, flat completions of 26,064 units, building permits issued for 45,862 units, and notes that rental growth has stabilized at 0% annually while Poland's five-year rental increase of 60% remains more than double the European Union average.
Poland's retail market added approximately 545,000 sqm of gross lettable area in 2025, with Q4 contributing 314,000 sqm—the strongest quarterly growth since 2016—driven primarily by retail parks (75% of new supply) while total retail stock reached 17.26 million sqm. Poland's economy grew 3.8% year-on-year in Q3 2025 fueled by domestic consumption and investment, retail sales rose 4.4% year-on-year through November, and 31 retailers opened first brick-and-mortar locations in the country during 2025, with shopping centre footfall and turnover recovering in December ahead of the Christmas season.
This is a market report published by Savills on December 31, 2025, covering the industrial sector in the Czech Republic as of the fourth quarter of 2025, with a focus on Prague.
Poland's combined office stock across nine major markets stood at 12.96 million sqm at the end of Q4 2025, with new supply constrained at 109,250 sqm (down 52% year-on-year), while the national vacancy rate declined to 13.1% and leasing activity in Warsaw reached a record 309,850 sqm in Q4, up 7% annually. Poland's economy grew 3.6% in 2025 with unemployment at 5.7%, and development pipelines have shrunk significantly from pre-pandemic levels due to elevated construction costs and weaker leasing demand compared with prior periods.
Knight Frank's Q4 2025 comprehensive guide documents Poland's warehouse market, reporting that total warehouse take-up reached 6.6 million square meters in 2025 (the third-highest annual result on record), while investment volumes increased 11% year-on-year to EUR 1.5 billion, with modern warehouse stock exceeding 36.6 million square meters despite new supply declining 35% to 1.7 million square meters. Key findings include a vacancy rate of 7.4%, asking rents ranging from EUR 3.8–7.5 per square meter per month depending on facility type and location, and strong demand driven primarily by 3PL operators and retail chains, with international investors—particularly from the United States (38% of investment volume) and Czech Republic (16%)—demonstrating continued confidence in Poland's logistics market.
Czech commercial real estate investment reached a record €4.36 billion in 2025, representing a 136% year-on-year increase, with mixed-use assets capturing 29% of volume, offices 24%, and industrial 18%, while Czech domestic buyers dominated with 86% of total investment volume. Q4 2025 investment activity accelerated sharply to €1.83 billion across 33 deals, with the Palladium mixed-use transaction representing the largest single-asset deal in Czech market history, and prime office and industrial yields stabilizing at 5.15% while retail yields compressed to 6.00%.
Savills' Q4 2025 Prague office market report documents total stock of 3.94 million square meters with gross take-up of 143,400 square meters (down 24% year-over-year), net take-up of 60,900 square meters (down 35% year-over-year), a vacancy rate of 5.9% (down 134 basis points), and completions of 11,300 square meters (up 240% year-over-year). The document reports that 2025 saw Prague's lowest annual new office supply in market history at 26,600 square meters, that the vacancy rate fell below 6.0% for the first time since Q1 2020, that total occupier activity reached 573,200 square meters (10% below 2024 but 18% above the five-year average), and that net take-up for the full year was 307,100 square meters (3% below 2024
Krakow's 2026 real estate market report by Knight Frank covers office, retail, warehouse, hotel, and residential sectors, presenting market data and trends across Poland's leading regional business center. Key findings include office market take-up reaching a historic high of 269,500 sq m in 2025 with a 18.4% vacancy rate, retail stock at 658,000 sq m with exceptionally low 2.6% vacancy, and warehouse stock exceeding 1.2 million sq m with 2.8% vacancy amid constrained supply.
Poland's industrial real estate market achieved 6.64 million sqm in gross take-up during 2025, representing 14% year-on-year growth, while total stock reached 36.58 million sqm with a vacancy rate of 7.4% and prime rents ranging from EUR 4.40–5.75 per sqm per month. Poland's economy grew 3.6% in 2025 with GDP projected to expand 3.7% in 2026, supported by robust domestic demand, declining inflation expectations, and interest rate cuts that reduced borrowing costs for industrial and logistics investment.
Cushman & Wakefield's Q4 2025 industrial market report for the Czech Republic shows that total modern industrial stock reached 13.3 million sq m, with 813,500 sq m completed year-to-date (a 53% increase versus 2024) and 1.3 million sq m under construction, while leasing activity posted strong results with 642,000 sq m gross take-up and 371,500 sq m net take-up for the quarter. The vacancy rate stood at 4.8% at quarter-end with prime rents stable at €7.50/sq m in Prague, €6.50/sq m in Brno, €5.90/sq m in Pilsen, and €5.60/sq m in Ostrava, as the Czech economy recovered from prolonged stagnation supported by domestic demand with 3.0% GDP growth forecast and unemployment at 2.8%.
Kraków's modern office stock reached 1,842,300 sq m by end of 2025, with the City Centre accounting for nearly one-quarter of supply at 436,700 sq m, while leasing activity hit a record peak of 269,500 sq m driven predominantly by lease renegotiations comprising 63% of total take-up. The vacancy rate declined to 18.4% representing 338,400 sq m of available space, though distribution is uneven across zones with the City Centre at 6.3% compared to the Northwest at 28.8%, while class A rents in modern buildings currently stand at EUR 14.00-18.00 per sq m per month with only 11,900 sq m of new supply delivered in 2025 against 55,400 sq m under construction.
Prague's office market ended 2025 with a 5.9% vacancy rate and stable prime rents at €30.00 per square meter per month, supported by record-low new supply of 26,600 square meters delivered during the year while 263,300 square meters remained under construction for 2026-2028 completion. Full-year gross take-up totaled 573,200 square meters, 10% below 2024 levels, though the Czech economy continued to recover driven by domestic demand and rising consumption despite cautious corporate hiring in the office sector.
Czech Republic's retail market delivered 57,300 sq m of new retail space in Q4 2025, bringing modern retail stock to 4.0 million sq m, with prime rents rising across all segments—high street rents increased 6.8% year-over-year to €235 per sq m per month, shopping centre rents rose 12.7% to €160 per sq m, and retail park rents gained 10.3% to €16 per sq m. The economy is expected to maintain solid growth in 2026 before stabilizing toward 2027, supported by strong domestic demand and household consumption, with approximately 119,700 sq m of retail space under construction as of end-2025.
The Czech commercial real estate market achieved record investment of €4.2 billion in 2025, more than double the prior year's €1.7 billion, with Q4 2025 alone reaching €1.8 billion, driven primarily by domestic capital representing 86% of annual volume and major transactions including the Palladium shopping centre and office acquisition by Czech fund Reico. Prime yields remained stable with office and industrial yields at 5.00% and hotel yields at 6.25%, while sector allocation was led by offices at 31% of annual investment, retail at 28%, and industrial assets at 19%, supported by projected GDP growth of 2.7% and improving consumer confidence.
In H1 2025, Poland's office market reached 689,000 sq m in total take-up (up 15% year-on-year), supported by constrained new supply at 343,000 sq m (the lowest in two decades) and a national vacancy rate stabilizing at slightly above 14%, with Warsaw's CBD vacancy falling to 7.1%. Between January 2024 and June 2025, over €2 billion was invested in Polish office assets, with prime Warsaw yields approaching 6% and capital values at EUR 4,500–6,000 per sq m offering significantly lower prices than Western European cities, positioning the market for renewed investor interest as rental growth and yield compression accelerate.
This is a quarterly market report on the Prague office sector published by Colliers in September 2025. The report provides an overview of office market conditions in Prague, Czech Republic.
Knight Frank's Q3 2025 "Strong Cities" report examines Warsaw's city attractiveness, office market performance, and labor market trends, presenting data on the city's investment potential, infrastructure, and economic indicators. Key findings include that Warsaw's office market remains stable with a vacancy rate of 9.7% (lowest in nearly five years), total stock of 6.25 million square meters, and 487,000 square meters leased between January and September 2025, while the Polish labor market has entered a phase of stability with cautious wage growth where only 34% of professionals actively seek new employment and double-digit pay rises are rare outside shortage sectors like finance and IT.
As of September 2025, Warsaw's modern office stock totalized 6.24 million square meters with a 9.7% vacancy rate—the lowest since late 2020—while office demand in the first three quarters of 2025 reached 486,600 square meters, marking a 2% decline year-over-year. New supply for Q1–Q3 2025 delivered 88,700 square meters (18% higher than the same period in 2024), with 90% concentrated in central zones where headline rents for prime space ranged from EUR 22.50 to 27.00 per square meter per month.
This is a market report published by Colliers on September 30, 2025, providing an investment market overview for Prague and the Czech Republic in the third quarter of 2025. The report covers capital markets activity and investment trends across the multifamily, office, and retail sectors in the Prague market.
Poland's economy expanded 3.7% year-on-year in Q3 2025, the fastest pace since Q4 2022, driven by private consumption and a stable labour market, with inflation at 2.9% and mortgage enquiries rising 42.2% year-on-year according to Cushman & Wakefield's residential sector analysis. During the first three quarters of 2025, construction began on 100,113 flats intended for sale or rent, representing a 14% decrease from the same period in 2024, while average asking prices on the primary market in Warsaw reached PLN 17,322 per square meter with modest quarterly growth of 1%.
Knight Frank's Q3 2025 report on Kraków analyzes the city's investment attractiveness, office market dynamics, and labor market trends, finding that Kraków ranks first in business friendliness and human capital among large European cities in the fDi's 2025 ranking, with a population of 809,200 and an unemployment rate of 2.5%. The office market shows Kraków as Poland's largest regional market with 1.85 million square meters of stock, 204,000 square meters of take-up through September 2025 (up 21% year-on-year), and an 18.6% vacancy rate, while the labor market has stabilized with employers becoming more cautious about pay increases, with only 34% of professionals actively seeking new employment and strong demand concentrated in finance, IT, cybersecurity, and big data roles.
This is a market report published by Colliers in September 2025 covering the industrial sector in Prague, Czech Republic for the third quarter of 2025.
Poland's commercial real estate investment market reached EUR 2.6 billion in total volume during the first three quarters of 2025, representing an 8% year-on-year decline but maintaining over 100 closed deals and signaling anticipated recovery in Q4. The office sector led investment activity with EUR 899 million (34% of total volume), followed by the warehouse sector with EUR 873 million showing 18% year-on-year growth, while Polish domestic capital achieved a record 22% share of total investment originating from Poland, reflecting increased appetite among local investors for commercial real estate.
Knight Frank's H1 2025 report on Krakow assesses the city's investment attractiveness, office market dynamics, and labor market trends. Key findings include Krakow ranking 1st in business friendliness and human capital among large European cities in the fDi's 2025 ranking, with 1.83 million sq m of office stock, record H1 2025 take-up of 172,000 sq m (including nearly 123,000 sq m in Q2 alone), a vacancy rate of 17.3%, and headline rents stable at EUR 10–18 per sq m/month, while an HR perspective section examines EU pay transparency directive implementation challenges beginning December 2025 and notes that 53% of Poland's active real estate agents are women.
Prague's office market in Q2 2025 showed a vacancy rate decline to 6.6% with total stock at 3.94 million sq m, while gross take-up fell 24% year-over-year to 164,800 sq m and new completions dropped 86% to 6,600 sq m, reflecting persistently constrained supply. Technology & IT sector companies dominated leasing activity, net take-up reached 110,300 sq m down 13% annually, and the outlook remains subdued with only 26,600 sq m of new supply projected for 2025, the lowest annual figure since 1994.
This is a data and figures report published by CBRE on June 30, 2025, presenting multifamily residential market information for Warsaw and Poland in the second quarter of 2025.
Warsaw's warehouse market comprised 7.1 million square meters of total stock at the end of Q2 2025, accounting for 19.6% of Poland's total warehouse space, with approximately 80% located in Zone II (12-50 km from the city center). In H1 2025, new supply totaled over 155,000 square meters (a 30% decline year-over-year), leasing volume reached nearly 550,000 square meters (an 18% increase), vacancy rose to 6.6%, and approximately 430,000 square meters remained under construction.
In Q2 2025, Warsaw's office market recorded net demand of approximately 63,000 square meters with total transaction volumes of 155,000 square meters, while the vacancy rate stood at 10.8% overall, with 7.8% in central zones and 13.3% outside the city center. New office supply in the first half of 2025 totaled 85,200 square meters, with lease renewals accounting for 59% of leasing activity in Warsaw during the quarter.