Poland’s regional city office markets remained broadly stable in the third quarter of 2025, though new supply continued to be tightly constrained. According to Review: Office Market. Regional Cities, the latest report from BNP Paribas Real Estate Poland, developers remain cautious, while tenants are focused on lease renegotiations and optimising their office footprints.
Fewer new office buildings
Since the start of 2025, Poland’s eight largest regional cities have seen around 18,000 sqm of new office space delivered, with another 43,000 sqm scheduled for completion by year-end. This would mark a record-low level of new supply compared with pre-pandemic years, when annual deliveries were four to five times higher. Kraków remains the largest market with 1.84 million sqm of office space, accounting for 27 percent of total regional stock, followed by Wrocław (20 percent) and Tricity (16 percent).
BNP Paribas Real Estate Poland notes that the eight largest regional office markets together now hold more modern office stock than Warsaw: at 52 percent versus 48 percent.
The third quarter of 2025 saw three new office completions. The largest was Stella Office in Kraków, developed by the Zasada Group, with 9,900 sqm. Another development delivered in the city by a private investor was Kamienica Kraków, which added 2,000 sqm, while TBV’s Zelwerowicza Office in Lublin contributed 3,700 sqm to the market.
Developers play conservatively
Approximately 43,000 sqm of office space is currently under construction and scheduled for completion by the end of 2025, with around 175,000 sqm expected to be delivered in 2026-2027. Developers are taking a cautious approach to launching new projects, given the slower leasing of new developments and the rise in lease renegotiations.
Kraków is set to lead office deliveries in 2025-2027, accounting for 27 percent of the total development pipeline, followed by Poznań (22 percent), Katowice (15 percent) and Tricity (14 percent).
The largest projects under construction include Von der Heyden Group’s AND2 in Poznań (37,000 sqm) and Stalprodukt Invest’s Tischnera Green Park 1 in Kraków (24,000 sqm). Other major developments are phase one of Swobodna Spot in Wrocław (14,000 sqm, Echo Investment), Wita II in Kraków (13,000 sqm, Archicom & Echo Investment) and .PUNKT in Gdańsk (12,000 sqm, Torus).
Public sector steps up activity
In the third quarter of 2025, office take-up climbed to 134,000 sqm, down roughly one-third compared with both the previous quarter and the same period last year. The strongest leasing activity was recorded in Kraków, accounting for 24 percent of total gross take-up, followed by Wrocław (20 percent) and Łódź (17 percent).
“Weaker occupier activity is attributed largely to economic uncertainty, a more cautious approach to relocations and expansions, and the scarcity of large, ready-to-occupy spaces,” says Małgorzata Fibakiewicz, Senior Director, Office Agency, BNP Paribas Real Estate Poland.
Meanwhile, Poland’s public sector became increasingly active between June and September 2025, accounting for approximately 13 percent of total leasing volume. The largest lease of the third quarter of 2025 was completed by the Regional Government of the Łódź Province, which leased more than 14,000 sqm at Brama Miasta II in Łódź for owner occupancy.
Leasing activity in the third quarter of 2025 was dominated by renewals. Notably, Rockwool GBS extended and expanded its lease to 9,000 sqm at Nowy Rynek D in Poznań, while GlobalLogic renewed its lease for 6,400 sqm at Bonarka for Business in Kraków, and Olympus Business Services renegotiated its contract for 4,000 sqm at Retro Office House in Wrocław.
Rents remain stable despite high vacancies
At the end of September 2025, the overall office vacancy rate stood at 17.7 percent, remaining relatively high year-on-year. Experts at BNP Paribas Real Estate Poland note that the availability of larger office units has tightened considerably, a notable trend in both regional cities and Warsaw.
Vacancy levels vary by city, with Kraków, Wrocław, Katowice and Łódź reporting above-average rates, and Tricity, Lublin, Poznań and Szczecin recording vacancies below 14 percent. The largest volume of unoccupied office space is in Kraków: 344,000 sqm, up 1.3 pp from the previous quarter.
With the average office vacancy rate remaining at 17.7 percent and new supply constrained, rental rates have held steady. Asking rents across regional cities stand at €11.5–20/sqm/month. “Wrocław and Poznań stand out, with prime office rents rising by €0.50 per sqm per month,” says Ewa Nicewicz, Senior Consultant, Office Agency, BNP Paribas Real Estate Poland.
Gross take-up by transaction type remained largely unchanged, with renegotiations and renewals accounting for the largest share at 42 percent in the third quarter, while pre-lets fell to 7.4 percent year-on-year. This confirms the cautious occupier sentiment.
