Bucharest Office Market Snapshot in the third quarter of 2020

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

• the demand for modern office space in Bucharest was of 56,400 sqm
• 52% of the clients opted to renew the contracts in the current locations

Download the ESOP_Office Market Snapshop_Q3 2020

Overview

In the third quarter of 2020, Campus 6.3, an office building with a usable area of 17,600sqm was completed in Bucharest, the third stage of a multiphase project. The building was fully pre-rented.

Occupier focus

In Q3 2020, the demand for modern office space in Bucharest was 56,400sqm, the proportion being balanced between the renewals of the lease contracts in the current locations, 52%, and the renting of new spaces, 48% of the total traded volume. The most sought-after areas were the North and Center-North, with 60% of the companies’ preferences for renting new spaces, followed by the Center-West with 28% of the total rented area.
The most active occupiers were companies from the Professional Services sector, with 48% from the total take-up, followed by companies from Construction & Real Estate sector with 12% and Technology and Telecommunications with 12%.

Main Transactions in Q3 2020

Main Projects to be delivered in 2020

Area	Project Name	Delivery	Surface (sqm)	Location
CENTRAL-NORTH	Ana Tower	S1 2020	35.000	Piata Presei
	Globalworth Campus C	S1 2020	28.000	Pompei
	ONE Tower	S2 2020	23.800	Floreasca
CENTRAL-WEST	Business Garden Bucharest	S1 2020	43.000	Grozavesti
	The Bridge III	S1 2020	21.200	Grozavesti
	Campus 6.3	S2 2020	17.600	Politehnica
ULTRACENTRAL	H Victoriei 109	S1 2020	6.700	Victoriei
	Bratianu 12	S1 2020	1.900	Universitate
	Dacia ONE	S2 2020	13.900	Romana

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!