CEE MARKETBEAT HOSPITALITY 2023 H2
The prime headline rent in Bucharest continued to increase in Q3 2022, reaching a level of around €19.50/ sq. m/month in the CBD area, with further increases expected in other submarkets in the following 6 – 12 months due to the relatively low office pipeline. There are currently new office projects of 129,000 sq. m GLA which are under construction, a low pipeline compared with the last few years, which comes as a result of the present bureaucratic issues in Bucharest, as very few real estate projects received their building permits during the last 12 – 18 months. One Cotroceni Park II, U-Center II or Equilibrium II are some of the most important projects that are expected to be delivered by the end of 2023.