According to the latest regional office market report by real estate advisory firm AXI IMMO,” take-up for office space in Poland’s largest regional cities (Kraków, Wrocław, Tricity, Katowice, Łódź, Szczecin and Lublin) reached 770,000 sqm in 2025, while new supply dropped to a record-low 20,000 sqm. Total modern office stock now stands at 6.72 million sqm, and the average vacancy rate declined to 16.9 percent for the first time in several years.
According to AXI IMMO analysts, regional office markets are entering a maturation phase, with tenants adopting more strategic, long-term decision-making processes. At the same time, building quality, energy efficiency and flexible space arrangements are gaining importance.
As outlined in the report, AXI IMMO’s Research team indicates that total leasing activity in regional cities reached 770,000 sqm in 2025 (+8 percent y/y). Net take-up amounted to 370,000 sqm (+5 percent y/y) and consisted of new lease agreements (38 percent), expansions (7 percent) and owner-occupied space (3 percent). Among the largest transactions completed in 2025 were Shell’s lease renewal at the DOT Office complex in Kraków (22,900 sqm) and Motorola Solutions’ re-leasing of 17,100 sqm at Green Office in Kraków. One of the largest new transactions was Warta’s lease of 8,600 sqm at Grundmanna Office Park A in Katowice.
Emilia Trofimiuk, Research Manager, Research Department, AXI IMMO, comments: “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 percent of the annual leasing volume. Renegotiations and renewals accounted for 52 percent 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.”
Limited new supply in 2025 resulted from both high financing costs and cautious developer sentiment, with many projects postponed until vacancy rates improved. Total modern office stock in regional cities currently stands at 6.72 million sqm. New completions reached a historic low of just 20,000 sqm (-83 percent y/y), with Stella Office in Kraków (9,900 sqm), developed by Grupa Zasada, being the largest building delivered during the period. At the same time, 240,000 sqm of office space remains under construction (+4 percent y/y), primarily in Poznań and Kraków, where projects are scheduled for completion in 2026.
As a result of limited development activity, regional office markets in Poland recorded a meaningful decline in vacancy rates for the first time in several years. The average vacancy rate stood at 16.9 percent (-0.9 pp y/y). The highest vacancy levels were recorded in Katowice, while Szczecin reported the lowest. However, these differences did not significantly affect rental expectations. Asking rents across most markets remained stable, ranging between €8.00 and €18.50 per sqm per month.
Emilia Trofimiuk adds: “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.”
Regional Office Market – Outlook
Karolina Słysz, Head of Regional Markets, Office Agency, AXI IMMO, comments: “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.”
In 2026, regional office markets are expected to continue operating under conditions of limited new supply. Combined with growing take-up, this may lead to further declines in vacancy rates. Take-up will be largely driven by small- and mid-sized tenants, continuing the trend observed in 2025, when the average size of a new lease agreement was approximately 700 sqm, with renegotiations and renewals accounting for the majority of transactions.
