Bucharest Office Market Snapshot Q1 2020

Overview

In the first quarter of 2020, four new office projects were completed In Bucharest, with a total GLA of 76,000 sqm, of which around 57% is already pre-rented.

Download the Bucharest Office Market Snapshot in Q1 2020

Occupier focus

In Q1 2020, the demand for modern office space in Bucharest was of 51,400 sqm. Net take-up represented 73% of the total volume. The Central-West area was the preferred one, with 36% from the net take-up, followed by the Central-North area with almost 27% of the leased surface.

The most active occupiers were companies from the Technology and Telecommunications sector – 47% from the total take-up, followed by companies from Finance/Banking/Insurance and Transport & Cargo.

Main Transactions in Q1 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 first 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!