Bucharest Metro and the Real Estate Connection

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The largest office deliveries by end-2020 will be near Aurel Vlaicu and Politehnica stations. Around 77% of Bucharest's offices are close to major subway stations.

Almost 2 mn sqm of Bucharest’s 2.6 mn sqm of modern office spaces – or around 77% – are within 10 minutes walking distance from a subway station. Also, some 0.9 million sqm are closely located around two neighboring stations in the northern part of Bucharest – the Floreasca/Barbu Vacarescu and Dimitrie Pompeiu submarkets. 

In as far as the vacancy rate is concerned, the 77% of modern office stock close to subway stations fares well: at the end of 2018, the vacancy rate stood at around 7%, below the market average of 9.5%, whereas for the rest of the 23%, it was over 19%. For 2019, it is likely that this gap between buildings with subway connections and those without only widened as a sizeable relocation took place recently, for instance. 

The interest in office developments is focused on central, northern and western locations. For example, the Pipera station is the city’s largest office submarket, with 510,200 sqm of office space, while the Aurel Vlaicu station will see the biggest pipeline for 3Q19-4Q20, with 73,000 sqm of office space, followed by Politehnica station, with 58,400 sqm of offices to be delivered for the same period. 


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Bucharest Metro and the Real Estate Connection

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About the Authors
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Silviu Pop

Head of Research | Romania

Bucharest

Before joining Colliers mid-2017 as Head of Research for Romania, Silviu Pop worked with ING Bank for close to three years as an economist, covering macroeconomic/financial market themes for Romania, Bulgaria, Serbia and Croatia. His previous professional experience includes working almost 7 years as a financial journalist at various media outlets in Romania, including the sole business-oriented TV station in Romania, where he hosted a daily show for a period of time; during this interval,  he won a number of scholarships, including a stint with Reuters. He holds a BSc in economics at the Bucharest University of Economic Studies.

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