Insights

In Q1 2017 the office market in Bucharest experienced a cautious start in terms of supply, with only 11,000 sq.m being completed. Although the number of office projects currently under construction is high, no major pre-lease deal has been recorded. Office leasing activity continued to be strong, with new demand representing more than 75% of the net take-up. Renewal and renegotiation deals have been ...

The modern office stock in Warsaw, Prague, Budapest and Bucharest at the end of H1 2014 was of 12.6 million sq. m. Warsaw continues to be the largest office market, with 4.3 million sq. m, followed by Budapest with 3.2 million sq. m, Prague with 2.96 million sq. m and Bucharest, with 2.11 million sq. m of modern office space. Compared with H2 2013, ...

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 ...

In the first half of 2014 five office buildings were delivered, with a total rentable area of 68,500 sq. m. Approximately 66% have been completed in Q2. At the end of H1 2014 Bucharest’s modern office stock reached 2.114 million sq. m. By the end of the year we expect another 63,500 sq. m of new supply in office projects such as Green Court ...

Strong market performance recorded in Q4 has led the total office space transacted in Bucharest in 2016 to be of ~ 400,000 sq. m. As business confidence is high and occupancy costs continue to be attractive, the office market draws the interest of different types of occupiers, while office construction works are following the same positive trend.

In Q1 2014 two office buildings were delivered adding to the total office stock 23,400 sq m. At the end of the quarter, Bucharest’s modern office stock reached 2,069,000 sq m. For the reminder of the year another 102,000 sq m are expected to be delivered in office projects like Green Gate, AFI Business Park II & III, City Offices, Green Court or Ethos ...

Throughout H1 2016 Bucharest’s modern office stock increased by 6%. At the end of June, existing class A and B office space amounts 2.39 million sq. m. Overall, 6 office buildings were delivered, having a total GLA of 135,000 sq. m. Given that new office deliveries last year amounted 85,000 sq. m, in H1 2016 new supply was higher by 60%. For the second ...

–   2nd Largest city in Romania after Bucharest –   University center in Romania after Buchares –   Largest Airport in Romania in terms of traffic* –   Major companies: MOL, Emerson, Ursus, Genpact, De’Longhi, Bosh –   2015 European Capital of Youth –   Competes for the title of European Capital of Culture in 2021 *Over 1,000,000 passengers in 2013

The sustained growth of the sector is driven by the need for businesses to continue to seek cost-cutting and operating e¢ciency initiatives. Many countries see the value of attracting BPO inward investment, as it provides opportunities for significant employment and the job profiles are becoming increasingly diverse and high value. In India alone – the world’s largest BPO market, more than three million people ...

Throughout 2015 gross take-up in the main regional cities amounted ~70,000 sq. m, being higher by 25% when compared with 2014. Net take-up represented 90%, with approximately 60,000 sq. m transacted and was divided between new demand (80%) and relocations within A & B stock. Pre-lease activity improved significantly. Compared with 2014, the office area subject of pre-lease transactions in 2015 was three times ...

Throughout 2015 Bucharest’s modern office stock increased by 4%. At the end of Q4, existing class A and B office space exceeds 2.25 million sq. m. Overall, 7 office buildings were delivered last year, having a total GLA of 85,000 sq. m. This represents the lowest level of supply registered in the last 3 years. For 2016, the level of office supply is projected ...

Overview Q4 2015 GDP growth has been revised up to 0.6%, while there have also been upward revisions to growth in previous quarters, mainly due to a stronger than expected performance in the services sector. Full year growth for 2015 is now estimated to have been 2.3%. Downside risks remain, however, with concerns rising over global economic and financial uncertainty and the possibility of ...

Starting 2015 modern office stock in Bucharest increased by 2.5%. At the end of June existing class A and B office space surpassed 2.21 million sq. m. Three office buildings were delivered, having a total GLA of 54,000 sq. m: City Offices, Auchan Tricodava and Green Court – building B. Currently under construction with delivery date by year’s end are 100,000 sq. m of ...

Throughout 2014 the office market outside Bucharest has thrived, recording high levels both in terms of leasing and development activity. The main regional cities in Romania – Cluj, Timisoara, Iasi & Brasov – started to become a viable option for companies looking to enter the local market or to enlarge existing operations beginning 2008 – 2009. Compared with Bucharest, this cities were offering more ...

July 2019: The employees working in modern offices in Bucharest spend an average of 46 minutes between home and work, while 52% of them consider the commuting time to be long or too long, according to the first edition of the Working Habits and Commuting Patterns study, realised by the real estate consultancy comapany Cushman & Wakefield Echinox. The average distance between home and ...

Bucharest’s modern office stock increased by 2% q-o-q and stands at 2.2 million sq. m. In Q1 2015 two office buildings were delivered, having a total rentable area of 37,000 sq. m: City Offices – 27,000 sq. m and Auchan Tricodava – 10,000 sq. m. For the rest of the year, new supply is projected to be of 130,000 sq. m. Among the office ...

The total stock of A&B class office buildings in Bucharest was of 2.71 million sq. m at the end of H1 2018; New supply was quite limited, with only one project completed; When it comes to H2 2018, more than 150.000 sq. m of office space are expected to be completed; Demand continued to be strong throughout the first half of 2018, with West ...

The modern office stock in Warsaw, Prague, Budapest and Bucharest at the end of 2014 was of 12.83 million sq. m. Warsaw continues to be the largest office market, with 4.4 million sq. m, followed by Budapest with 3.24 million sq. m, Prague with 3.03 million sq. m and Bucharest, with 2.16 million sq. m of modern office space. The office stock in CEE’s ...

In H1 2017, gross take-up in the main regional cities amounted ~40,000 sq. m, dropping by 50% when compared with 2016. The largest office deal closed in the first half of 2017 in a regional market has a rentable area of ~7,000 sq. m. and was delivered in Timisoara. Class A & B office space in Cluj Napoca, Timisoara, Iasi and Brasov reached 693,500 ...

In 2014, Bucharest’s modern office stock reached 2.16 million sq. m, being with 6% higher when compared with 2013. Twelve office buildings have been delivered last year, with a total rentable area of 117,000 sq. m. For 2015, we expect the delivery of 154,000 sq. m of office space located in projects such as Bucharest One, Green Court – B, AFI Business Park 4&5 ...

Millennials have been more affected by the pandemic than other generations. Having attended school during the Dot.com crash, they came of age during the Great Financial Crisis (GFC), and now find themselves enduring the worst recession in a century at a time when they are trying to build their careers, as well as focus on their personal lives. In this article, Cushman & Wakefield’s ...

This Cushman & Wakefield study is the first in a four-part series that provides a new perspective on COVID-19’s impact on the commercial real estate (CRE) industry and the future of the office spaces. COVID-19 is disrupting the economy, accelerating shifts and creating structural changes that will persist for years. Several forces are at play—from office-using job losses, to higher vacancy and downward pressure ...

This study is the second in a four-part series that provides a new perspective on COVID-19’s impact on the commercial real estate (CRE) industry and the future of the office. The office is more than just a building – it’s a place where people come together to build connections, collaborate and innovate. The global pandemic has accelerated an evolution of the workplace and forced ...

The total new supply for the first nine months of 2020 reached 124,000 sq. m, reflecting a 35% y-o-y decline. The modern office stock of Bucharest reached 2.9 million sq. m. Covid-19 remains a leasing activity disruptor In Q3 2020, the total leasing activity in Bucharest was of 63,600 sq. m, with net take-up having a share of only 46%, since most transactions were ...

The “Back to office: An office employees survey” outlines how the employees managed to adapt to the new working conditions, with the advantages and disadvantages of the new work from home or from the office experience. Employees will migrate towards a hybrid working environment, therefore office developers will have to adapt their projects to the new work-frame. The October 2020 Edition is the result ...