Bucharest Office Market Snapshot in second quarter of 2020

An Esop Consulting office market study for Bucharest in the second quarter of 2020

• the demand for modern office space in Bucharest was of 26,400 sqm
• 72% of the surface of office buildings completed in the second quarter is already rented

Download ESOP_Office Market Snapshop_Q2 2020

Overview

In the second quarter of 2020 four two office projects were completed In Bucharest, with a total GLA of more than 28,000 sqm, of which around 72% is already pre-rented.

Occupier focus

In Q2 2020, the demand for modern office space in Bucharest was 26,400 sqm. Net take-up represented 73% of the total volume. The most sought-after areas were the Center-West, with 38% of the companies preferences for renting new spaces, followed by Center-North with 36% of the total rented area.

The most active occupiers were companies from the Technology and Telecommunications sector – 29% from the total take-up, followed by companies from Medical&Pharma with 27% and Finance/Banking/Insurance with 18%.

Main Transactions in Q2 2020

Main Projects to be delivered in 2020

Outlook

By the end of 2020, over 200,000 sqm of modern office space is forecasted to be completed.

The map shows the rent levels by class in main business areas, in the second quarter of 2020. During the year, some adjustments might take place.

ESOP Partners In Time

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!