Bucharest metro traffic doubled in March after the pandemic related restrictions were lifted; employees are gradually returning to the office
The demand for industrial and logistics spaces reached a new record level in Q4 2021, with a total leasing activity of 441,000 sq. m, up 46% when compared with Q3 2021 and slightly higher compared with the same period of last year. Overall, the leasing activity in 2021 has exceeded the 1 million sq. m threshold for the first time in the market’s history. Amongst the most significant transactions signed in Q4 2021 were the ~50,000 sq. m renewal and expansion deal closed by CTP with Network One Distribution in CTPark Bucharest West, Inteva’s 25,000 sq. m renewal in CTPark Salonta, Mobexpert’s 24,000 sq. m new lease in CTPark Bucharest North and Elbi’s 16,000 sq.m new lease in P3 Bucharest A1. Bucharest attracted 70% of the transactions signed in Q4 2021 and 67% of the annual volume, while Timisoara, Brasov and Oradea (Salonta) have also been dynamic markets both in Q4 and throughout the year.