by Mirela Raicu 
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 office buildings were completed or are very close to completion, with a total leasable area of 73,500sqm, of which 72% were already rented. All buildings are part of multiphase projects: the London and Oslo buildings within Sema Parc, the B1 and B2 buildings in @Expo project and the Tandem building in the project on Matei Millo Street.
In Q1 2022 in Bucharest, a total area of 73,685sqm of modern office spaces was rented. 20% was represented by the extension of the lease contracts in the current premises and 80% by the rent of new surfaces (newly contracted offices and expansions in existing ones). The most sought-after area was the Center-West, with 27% of the companies’ preferences for renting new spaces, followed by the Center-North area with 25%.
The most active tenants were companies in the IT&Communication sector with 35% of the newly leased area, followed by companies in the Professional Services and FMCG sectors, with 19 and 10% of the leased area, respectively.
| 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.
The distribution of the tenants according to their sector of activity was very balanced in this quarter. The most sought-after area was the Center-North, with 71% of the companies’ preference for renting new spaces. At the end of the first quarter of 2023 in Bucharest, three office buildings were completed, with a total leasable 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 […]
