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 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 […]