2023-11-13-莱坊-Warsaw_city_attractiveness_and_office_market_Q3_2023_5页_6mb

Warsaw City Attractiveness

• Quality of life: Ranked #1 in Europe for cities under 3 million population, #1 in infrastructure, disabled-friendly, bicycle-friendly, and among the top cities for graduates and public transport accessibility.
• Investment attractiveness: Ranks #1 in Central and Eastern Europe, with strong infrastructure projects ($6.9bn planned) and a supportive government environment. GDP growth rate at 2.4%. Multiple awards for being an Investor-Friendly City.

Warsaw Office Market (Q3 2023)

• Supply & vacancy: Existing stock decreased by ~90% from 2022 due to low completions (only ~20k sqm new in Q1-Q3 2023). Vacancy rate reached 10.6% (seasonally low), slightly down from Q2 2023, with central zones slightly tighter. Construction is planned, mostly centrally, with delivery expected between 2024-2026.
• Demand & prices: New demand struggles, with most transactions renegotiations. Asking rents hold steady across zones, but high construction/service costs may pressure landlords to keep rents stable or rise further. Service charges are increasing. Trends: Focus on flexible/remote work pushing some companies to shrink leased space or use coworking; new supply remains central.

Warsaw Labour Market Perspective (IT Contracting 2023)

• Market conditions: Demand for IT freelancers decreased due to economic uncertainty (US layoffs, inflation) and reduced business investment, but supply still exceeds demand in stable industries (finance, security).
• Talent trends: Work-life balance and flexibility are paramount – employers must offer flexible working arrangements. Employees prioritize well-being over promotion and highly competitive salaries and benefits are crucial in attracting and retaining talent.
• Talent needs: High demand persists for Software Testers, Frontend Developers, and DevOps engineers. Senior/expert experience remains highly valued, shortening projects; key areas include software development, security, and SAP.