Office market slowed during H1 2015

Cushman & Wakefield has summed up the most important facts concerning the office market in Poland after the first half of 2015. In Katowice, some mid-year figures seem to be slightly worse than in 2014.

Existing office stock in Katowice totaled 379 622 sq. meters after the first half of this year. Tenants leased 20 486 sq. meters during the six months of 2015 (37 304 in 2014 in total). The biggest deals of H1 2015 in Katowice include PKP Cargo’s lease of 7 649 sq. meters in the building two of A4 Business Park and Capgemini’s lease of 5 598 sq. meters in the second building of Silesia Business Park.

There were only 9 135 sq. meters of new office space delivered to the market during the first half of 2015 and the new supply was one of the smallest among regional cities – down by 7 000 sq. meters compared with H1 2014 (55 852 sq. meters in 2014 in total). Also, negative absorption was noted in Katowice (-600 sq. meters) compared with H1 2014. Despite the lower activity of tenants, the vacancy rate drop from 11,21% in 2014 to 7,86% after the first half of 2015.