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.
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. […]
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 […]