Office Transactions at the End of the First Semester of 2013
During the first semester of 2013, the Take‐up on the Bucharest market (including leases in existing buildings, pre‐leases and expansions) amounted to 66,089sqm, from a total number of 107 transactions. In addition to these, contract Renewal transactions amounted to 37,361sqm (17 transactions).
ESOP Consulting/CORFAC International’s percentage out of the total number of relocation transactions is 52%,
respectively 55 transactions, being a leader as far as the number of transactions concluded in Bucharest is concerned and, also, the second company at the level of the entire market, considering the total office areas leased.
EVOLUTION COMPARED TO S1 2012.
The number of relocation transactions concluded on the Bucharest office market increased by 22%, however, the total volume decreased by 30%, in terms of surface, due to the reduction of two important segments: pre‐leases and expansions. However, leases in existing buildings increased by almost 30% compared to S1 2013, while pre‐leases decreased almost five times.
However, contract Renewals significantly increased in S1 2013, by 114% compared to S1 2012, i.e. from 17,440sqm to 37,361sqm.
Overall, during the first half of 2013, the Total Leasing Activity (Take‐up and Renewals) was 103,450sqm, i.e. 17 up to 29% lower compared to three of the previous years.
MOST TRADED TYPES OF SURFACES
The transactions with office areas of up to 3,000sqm amounted to 79% of the Take‐up, the largest percentage being represented by transactions with areas of up to 1,000sqm. The transactions with areas exceeding 3,000sqm represented merely 21%.
In the first half of 2013, most customers who relocated their offices preferred the Central‐North zone, here the volume of leased office areas being three and a half times higher than in the North zone, which ranks second and amounts to almost twenty times more than in the Central‐South.
TRANSACTIONS BY INDUSTRY
Most customers came from the IT&Communication (32%), Professional Services (14%), Financial Services and Construction&Real Estate industries.
OFFICE TRANSACTIONS AT THE COUNTRY LEVEL
Outside Bucharest, 9,684 sqm were traded, most of which in Sibiu (3,900sqm) and Cluj Napoca (3,500sqm). Other transactions were concluded in Timisoara (1,284sqm), Iasi (820sqm) and Brasov (180sqm).
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 […]
107,000 sqm of office spaces delivered in 2022, 60% less than in 2021 and almost 50% less than the 5 years deliveries average Over 93% of spaces were delivered in the 1st Semester (approximately 100,000 sqm) 90% of the new spaces are in office buildings that are part of business parks For 2023 and 2024, […]