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.
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.
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.
2023 OVERVIEW 2023 brought deliveries of 130,700 sqm to the office market, which represented a 22% increase compared to the previous year. At the same time, however, compared to the average deliveries in the last 5 years (228,000 sqm), 2023 recorded a decrease of 43%. ✓ 68% of the 2023 deliveries took place in the […]
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. […]