Total office stock in Poznań at the end of June 2021 exceeded 618,000 sq m. In H1 2021 only one new project was completed, although developers did start new investments. In Q2 2021, the next phase of the Nowy Rynek complex was completed, adding approx. 36,000 sq m to the local stock. At the end of June 2021 approximately 75,000 sq m, in four projects, was identified as being under construction, of which the two largest: Nowy Rynek E and Andersia Silver are scheduled for completion in 2023.
Tenants remain relatively active in the local market – during H1 2021 almost 20,000 sq m was subject to lease, which is 10% higher than H1 2020.
At the end of June 2021 the vacancy rate stood at 12.9%, which is 0.4 pp. higher than the previous quarter and 1.6 pp. lower compared to the corresponding period of 2020. The y-o-y decrease in vacancy rate occurred due to limited new supply.
If you want to know more about Poznań, please have a look at the full report: https://reports.knightfrank.com.pl/strongcities_h12021