A small decline in terms of new supply
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 renewals as a result of the consolidation measures adopted by most companies during the on-going pandemic.