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.
107,000 sqm of office spaces delivered in 2022, 60% less than in 2021 and almost 50% less than the 5 years deliveries average Over 93% of spaces were delivered in the 1st Semester (approximately 100,000 sqm) 90% of the new spaces are in office buildings that are part of business parks For 2023 and 2024, […]
The third trimester of 2022 in the office market in Bucharest is distinctive by the large proportion of lease contract renewals in current spaces, adding up to almost half of the total leased area. Professional Services was the most active industry in the 3rd quarter, with 37% of the transactions, after the first half of […]
The year begins with a positive evolution in terms of the level of transactions, in the first quarter of 2022 being traded in Bucharest a total area 41% higher than in the same period of 2021. Download the ESOP study_Office Market Snapshot_Q1 2022 At the end of the first quarter of 2022 in Bucharest, five […]