Kraków office market - July 2026

Transcript

Today we will look at the situation on the Kraków office market. It is Poland second-largest market by supply, with a stock of 1.8 million square metres of modern office space. Let us see whether it is a landlord or a tenant market.

Recently I warned Warsaw tenants that vacancy there reached just under 8.6% in June 2026. The lower that level, the faster rents rise and the harder it is to find attractive space. And how does it look in Kraków? Let us check.

As of 10 July 2026, vacancy stands at 19%. And although that is one of the lowest levels in three years, the situation is not as tight as in Warsaw. There is one caveat: in Śródmieście itself, with a stock of nearly 530 thousand square metres, vacancy is under 9%.

The average rent in Kraków is €14.45 per square metre. As usual, Śródmieście is the most expensive - €16.5.

And supply? In 2026, 34 thousand square metres of office space was delivered in Kraków, with about the same under construction. For Poland second market, that is really little - the effects, in the form of rising rents and falling availability, will only be felt in the coming years.

To sum up: I cannot say the Kraków market belongs to landlords, because vacancy is still relatively high. But I also cannot say it is a tenant market, because in Śródmieście itself that same indicator is very low.

Tenants will still find attractive space in Kraków - with one caveat. Looking at the trends and new supply, the situation will slowly change, and certainly not in tenants favour.

If your company is considering a relocation in the coming years, it is best to start renegotiations now, or go to the market and see what is available and at what rates. Thank you very much.