In the third quarter of 2019, two new office projects were completed In Bucharest, with a total GLA of 59,000 sqm, of which around 78% is already pre-rented. The demand was high in other cities as well, 33% of the total net take-up being located in Cluj-Napoca, Timisoara and Iasi.
In Q3 2019, the demand for modern office space in Bucharest was of 64,700 sqm. Net take-up represented 74% of the total volume recorded and consisted mainly of pre-leases and new operations. The North area was the preferred one, with 43% from the net take-up, followed by the downtown area with almost 29% of the leased surface.
The most active occupiers were companies from the Technology and Telecommunications sector – 40% from the total take-up, followed by companies from Construction & Real Estate, FMCG and Professional Services.
Main Transactions in Q3 2019
Main Projects to be delivered in 2019
By the end of 2019, over 300,000 sqm of modern office space is forecasted to be completed. Due to the high number of office projects under development, rental levels are forecasted to remain stable. Demand for quality office space is projected to follow the same positive trend going forward.
In 20 were delivered 157,000 sqm office spaces in business centers in Bucharest. For 2021 is expected the completion of 290,000 of office space in business centers, and a roughly equal volume for 2022. Approximately 31% of the spaces due in 2021 are already pre-leased. Download the market research The Office Market at the beginning […]
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 […]
An Esop Consulting office market study for Bucharest in the second quarter of 2020 the demand for modern office space in Bucharest was of 26,400 sqm 72% of the surface of office buildings completed in the second quarter is already rented Download ESOP_Office Market Snapshop_Q2 2020 Overview In the second quarter of 2020 four two […]