by Mirela Raicu 
The year 2022 has a positive evolution in terms of the level of transactions, in the first semester the total newly leased area in Bucharest is 41% higher than in the same period of 2021.
Download the ESOP study_Office Market Snapshot_S1 2022
At the end of the first semester of 2022 in Bucharest, six office buildings were completed or are very close to completion, with a total leasable area of 98,000sqm. All buildings are part of multiphase projects: the London and Oslo buildings within Sema Parc, the B1 and B2 buildings in @Expo project, the second phase of Afi Tech Park and the Tandem building in the project on Matei Millo Street.
In S1 2022 in Bucharest, a total area of 154,450sqm of modern office spaces was rented. 25% was represented by the extension of the lease contracts in the current premises and 75% by the rent of new surfaces (newly contracted offices and expansions in existing ones). The most sought-after area was the Center-West, with 33% of the companies’ preferences for renting new spaces, followed by the Center-North area with 28%.
The most active tenants were companies in the IT&Communication sector with 23% of the newly leased area, followed by companies in the Professional Services sector with 13% and Energy, Medical&Pharma and Real Estate&Construction sectors, each with 8% of the leased area.
| Area | Project Name | Delivery | Surface (sqm) | Location |
| CENTRAL-NORTH | @EXPO – Building B1 | S1 2022 | 11,000 | Piata Presei |
| @EXPO – Building B2 | S1 2022 | 10,000 | Piata Presei | |
| CENTRAL-WEST | Sema Parc – London | S1 2022 | 21,500 | Splaiul Independentei |
| Sema Parc – Oslo | S1 2022 | 10,000 | Splaiul Independentei | |
| Afi Tech Park 2 | S1 2022 | 26,000 | Razoare | |
| ONE Cotroceni Park 2 | S2 2022 | 34,000 | Razoare | |
| DOWNTOWN | Tandem | S1 2020 | 21,000 | Universitate |
| H Tudor Arghezi | S2 2022 | 5,800 | Universitate |
By December 31, 2022, the completion of a smaller number of office buildings than in the previous years is scheduled, with a total of 140,000sqm of office space.
The map shows the rent levels in the main business areas. During the year, some adjustments might take place due to the negotiations between the tenants and the landlords.
ESOP’s portfolio includes, in addition to office buildings for rent in Bucharest, office spaces for sale in Bucharest, industrial parks and warehouses for rent, as well as office spaces for rent in the main cities of the country.
If you would like more information, please contact the ESOP team by filling this brief form, or by phone (+4) 0723.26.61.97 or (+4) 021.528.04.40. We’ll promptly answer your inquiry!
Founder Partner of ESOP Consulting CORFAC International, coordinator of the Corporate Office Spaces division, with 18 years of experience in real estate consulting and entrepreneurship.
2023 OVERVIEW 2023 brought deliveries of 130,700 sqm to the office market, which represented a 22% increase compared to the previous year. At the same time, however, compared to the average deliveries in the last 5 years (228,000 sqm), 2023 recorded a decrease of 43%. ✓ 68% of the 2023 deliveries took place in the […]
In Q3 2023, the total volume of transactions on the Bucharest office market reached 165,480 sqm, close to the total for the first semester of the year. The most sought-after area in Q3 2023 was the Central-South one, which though only 5 transactions concentrated 37% of the volume of (Pre) Lease & Expansions The IT&C […]
In S1 2023, the total volume of transactions on the Bucharest office market reached 176,900 sqm. The most sought-after area in S1 2023 was the Central-North one, with 69% of the total (Pre)Lease & Expansions volume. The IT&C industry had clearly led the office market in S1 2023, with 35% of the newly leased areas. […]
