In 2019, 295,000sqm of office space were delivered, increasing by 54% compared to the area delivered in 2018.
For 2020, it is expected to complete more than 265,000 sqm of office space in business centers, while for 2021 a total volume of 386,000 sq m is announced. Approximately 52% of the spaces that will be delivered in 2020 are already pre-rented.
In Bucharest, the volume of spaces traded in 2019 continued the growth from recent years, standing at a level of approx. 386,000 mp.
In 2019 were delivered 295.000 sqm office spaces, out of which over 200.000 sqm in multi-phase projects, a 54% growth from the surface delivered in 2018. The pipeline for the next 3 years, 2020-2022, shows a good delivery pace, with an average estimated at around 300.000 sqm per year.
BUSINESS CENTERS DELIVERED IN 2019 IN BUCHAREST
The areas with the largest delivered surfaces remained, the same as in the previous years, center-west and center-north areas, with 42% and 38% out of the total surface.
Main projects delivered in 2019
ESTIMATED DELIVERIES IN 2020
In 2020, more than 265.000 sqm office spaces in business centers are expected to be completed. These are followed in 2021 by another 385.000 sqm. Approximately 52% of the spaces due in 2020 are already pre-leased.
Main projects expected in 2020
In Bucharest, the growth trend from previous years continued in 2019, reaching a total of aprox. 386.000 sqm rented in office buildings.
In 2019 a significant amount of the total rented space, over 100.000 sqm was totalized from few transactions over 10.000 sqm each.
Most requests came from IT & C, BPO and SSC industry, adding up 50% of the total rented surface in 2019.
The Financial Services sector also had an important market share with 17% of the rented space. The Construction & Real Estate sector, with 8% of the space remains an important source of demand.
The year begins with a positive evolution in terms of the level of transactions, in the first quarter of 2022 being traded in Bucharest a total area 41% higher than in the same period of 2021. Download the ESOP study_Office Market Snapshot_Q1 2022 At the end of the first quarter of 2022 in Bucharest, five […]
New Deliveries in 2021: 263.000 sqm of office spaces in Bucharest, with 67% more than in 2020, and with 23% more than the last 5 years average deliveries Over 78% of the spaces got delivered within the second semester (approx. 207.000 sqm) New spaces had a more balanced distribution in terms of areas, compared to […]
A market study by Esop regarding the office market in Bucharest in the third quarter of 2021 In Q3 2021, in Bucharest, was rented a total area of 79,270 sqm of office spaces By the end of 2021, over 100,000 sqm of modern office space is forecasted to be completed Download the ESOP study Office […]