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Insights | BUCHAREST OFFICE MARKETBEAT 2016
BUCHAREST OFFICE MARKETBEAT 2016
- At the end of Q4 2016 modern office stock in Bucharest surpassed 2.5 million sq. m. Throughout the year 275,000 sq. m of office spaces were delivered, this being the highest level recorded since 2009.
- For 2017 more than 190,000 sq. m of office space are planned for delivery.
- When compared to the previous year, 2016’s net take-up figure is higher by 50%. Demand for office space has increased significantly mainly because the area required by tenants for expansions and new operations (new companies entering the market & existing occupiers opening new businesses) was higher by 42% y-o-y.
- Development activity will continue going forward, given that more than 400,000 sq. m of office spaces are planned to be delivered by the end of 2018.
