The largest office markets in Poland - Wrocław
Wrocław is the second most rapidly developing regional market in Poland and the third largest centre for business services. 22% of total office space available in Poland’s eight main regional markets is located here – according to “The largest office markets in Poland | Wrocław” report published by the international consulting company Colliers International and Advisory Group TEST Human Resources. The publication contains the analysis of the salary in the capital of the Lower Silesia region.
In the last year, after delivering of 139,000 sqm, the supply of modern office space in Wrocław reached almost 850,000 sqm. Currently, about 120,000 sqm of office space is in the construction phase, from which 70% is planned to be delivered in 2017. About 23% of space planned to be delivered in the current year is already leased.
Gross annual demand for office space in Wrocław is displaying an upward trend for the fourth year in a row. At the end of 2016, the take-up transaction value reached the record level of 124,000 sqm. Also, the absorption of office space achieved a record level of 86,000 sqm (+2% y-o-y).
„According to estimations, 1/3 of tenants activity from last years was generated by BPO/SSC companies, which consider Wrocław to be an attractive outsourcing location. Currently, 111 SSC/BPO centres employing over 34,000 people operate in the city. Wrocław grows stronger every year. This success is due to the wise policy of the City Hall for more than 10 years,” said Dorota Kościelniak, Colliers International Regional Director in Wrocław.
Wrocław is also the nationwide leader in the number of R&D centres with a growing number of KPO operations. Companies that are developing in Wrocław include Atos, BNY Mellon, Credit Suisse, Geoban, HP, Nokia Solutions, SII and Volvo.
Stable rents
The vacancy rate in Wrocław increased from 8% at the end of 2015 to 12.5% at the end of the last year. There is 106,000 sqm of available space in the Wrocław market. The vacancy rate will keep rising in the coming quarters thanks to the record level of activity among developers.
Despite the persisting tenant interest, the Wrocław office market offers stable leasing conditions; however, rent levels are among the highest in regional cities. Asking rents in new projects are EUR 12.5-16.5/sqm/per month. In older buildings, asking rents are EUR 10.5-14/sqm/per month.
“The market in Wroclaw is a neutral one both for tenants and owners. As incentives, developers are offering rent-free periods – usually one month for each leasing year and a fit-out budget, which is negotiated individually depending on the size of the leasing agreement. According to forecasts, asking rents will remain stable,” added Dorota Kościelniak.
Salaries
In 2016, positions in IT departments continued to be the best paid ones. The incredibly high demand both among specialists and managers means that in this area we are dealing with the so-called employee market. An increase in the number of job offers for highly qualified specialists could be observed in HR and finances. Among the offers for finance specialists, half of them is aimed at accountants. Customer service is also growing dynamically.
