> **来源：[研报客](https://pc.yanbaoke.cn)** ```markdown # Summary of Warsaw's Investment and Office Market Trends - H1 2026 ## Core Content Overview This document provides an in-depth analysis of Warsaw's current investment attractiveness, office market dynamics, and human resource trends in H1 2026. It highlights Warsaw's position as a leading city in Poland for business and innovation, while also outlining the state of its office market and the evolving demand for skilled leadership in the context of nearshoring. ## Key Information ### City Profile - **Area**: 517.2 sq km - **Population (2025)**: 1,866,729 - **Population Forecast (2030)**: 1,919,300 - **Population Forecast (2050)**: 1,906,300 - **Unemployment Rate (May 2026)**: 1.6% - **GDP Growth (2023)**: 14.9% - **GDP per Capita (2022)**: PLN 217,793 - **Average Salary (Gross, Business Sector, May 2026)**: PLN 11,204.68 ### Investment Attractiveness Warsaw ranks highly in several key categories: - **1st** in the **Shared Mobility Friendly Cities in Poland 2024** ranking - **2nd** in the **fDi "European Cities and Regions of the Future 2025"** ranking in the **Business Friendliness** and **Human Capital and Lifestyle** categories - **3rd** in the **fDi "European Cities and Regions of the Future 2025"** ranking **Overall** - **1st** in the **CEE Sustainable Cities Index 2024** (Arcadis) - **1st** in the **Best European Capital of MICE & Leisure 2026** (European Best Destinations) - **Featured** in **Forbes' "European Cities Of The Future: 10 Places To Visit In 2026"** and **The New York Times' "52 Places to Go in 2026"** ### Quality of Life - **Museums & Art Galleries**: 102 - **Theatres & Music Institutions**: 32 - **Cinemas**: 34 - **Food Service Establishments**: 3,164 (including over 540 restaurants) - **Commercial Retail Space**: ~2.4 million sq m - **Outdoor Gyms**: 224 - **Swimming Pools & Ice Rinks**: 37 + 15 - **Beaches**: 11 along the Vistula - **Public Transport**: - 90% of residents rate public transport as "good" or "very good" - 2 metro lines, 5 Szybka Kolej Miejska (SKM) lines, 275 bus lines with 1,430 low-floor vehicles - 27 tram lines with over 774 trams - 79% of residents consider Warsaw as bicycle-friendly - Over 3,590 city bikes and 348 bike stations - Over 883.5 km of bike paths - 47% of the city is covered in green areas ### Education & Workforce - **Number of Students**: 262,700 - **Number of Graduates**: 51,000 - **Number of Universities**: 67 - **Airport Distance to City Centre**: 9.8 km - **Airport Passengers (2025)**: 24.1 million - **BSS Sector**: - Number of Centres: 418 (2025) - Number of Employed: >100,000 ## Office Market Overview ### Supply - **Existing Stock**: 6.24 million sq m - **Supply Under Construction (H1 2026)**: 129,000 sq m - **New Supply (H1 2026)**: 45,000 sq m - **Supply Under Construction (Year-End 2026)**: 4,000 sq m - **Total Supply Forecast for 2026**: 49,000 sq m (record low) - **Development Pipeline (2027-2028)**: 125,000 sq m ### Take-Up - **Total Take-Up (H1 2026)**: 417,000 sq m - **Year-on-Year Increase**: 38.8% - **Take-Up Distribution**: - **CBD**: 18% - **Daszyński Roundabout**: 34% - **Służewiec**: 21% - **City Centre (excluding Daszyński Roundabout)**: 59% - **Mokotów (excluding Służewiec)**: 4.8% - **Jerozolimskie Corridor**: 11.1% - **East**: 8.0% - **Żwirki i Wigury**: 19.7% - **West**: 11.2% - **Puławska**: 6.6% ### Vacancy Rate - **Overall Vacancy Rate (End of June 2026)**: 8.5% (down by 2.3 p.p. YoY) - **Daszyński Roundabout Vacancy Rate**: 2.0% (down by 3.2 p.p. YoY) - **Expected Trend**: Further decline due to limited supply and strong take-up ### Rents - **Headline Office Rents (Central Locations)**: EUR 18.00–32.00 per sq m per month - **Non-Central Locations**: EUR 12.00–18.00 per sq m per month - **Service Charge (PLN per sq m per month)**: 18.00–38.00 - **Rent-Free Period**: 1.5–2 months per contract year - **Fit-Out Budget (EUR per sq m)**: 250.00–750.00 ## Key Trends and Insights ### Office Market Characteristics - Warsaw is the **largest and most mature office market** in Poland, holding nearly half of the national modern office supply. - The market is characterized by **limited new supply**, with only 49,000 sq m expected for 2026. - **Occupier activity** has surged, leading to a **decline in vacancy rates** and reinforcing the **landlord's market** status. - **Prime office segments** in central areas, particularly the **Daszyński Roundabout**, have the **lowest vacancy rates** and **highest rents**. ### Occupier Activity - **Business Services** was the most active sector, accounting for **15%** of leased space. - **Banking, Insurance & Investment** contributed **13%**, **IT** **11%**, and **Public Sector** **11%**. - **Lease Renewals & New Leases** drove **94%** of the take-up, with **Expansions** at **5%** and **Owner-Occupier** transactions **minimal**. ### Investment Support - **Individualized approach** for investors - **Comprehensive assistance** throughout the investment process - **Reference visits** and **data assistance** provided - **Collaboration with universities and HR agencies** - **Back office support** and **public aid information** ## Human Resource Trends ### Nearshoring Impact - Nearshoring is reshaping European industry and **increasing demand for skilled leadership**. - **Leadership and specialist expertise** are now as important as infrastructure in driving business success. ### Leadership Skills in Demand - Leaders must combine **commercial judgment** with **organisational change management**, **team resilience**, and **succession planning**. - **Delayed hiring** processes are common due to economic uncertainty, but result in **loss of top talent** to competing offers. ### Talent Geography - **Established Hubs**: Warsaw, Wrocław, Łódź, and the Silesian region remain central to industrial activity. - **Emerging Regions**: - **West Pomerania**: Offers a balance of **quality of life** and **executive mobility** - **Tri-City**: Combines **advanced business services**, **manufacturing**, and **logistics**, creating a deep pool of **international leaders** - **Lublin**: Provides a **strong academic ecosystem** and **untapped labor market**, reducing competition for talent ## Conclusion Warsaw's office market continues to thrive despite a constrained supply, driven by robust occupier activity and a low vacancy rate. The city is also emerging as a top investment destination in Poland, with a strong focus on **sustainability**, **mobility**, and **quality of life**. As nearshoring reshapes industry dynamics, the demand for **leadership and specialized human capital** is growing, making **talent availability** a key factor in investment decisions. Warsaw remains a **strategic and attractive location** for both **business and talent**, with a strong support system for investors and a deep pool of skilled professionals. ```