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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Sebastian Dragomir

Partner | Head of Office Advisory | Romania

Bucharest

Achieved over 14  years of experience in Real Estate, including management of Landlord Rep Department in CBRE, Head of EHL Romania Office & Industrial Department, and Senior Leasing Manager and Marketing Coordinator within IMMOFINANZ Romania, dealing both with Industrial and Office portfolio in Romania and Bulgaria. 

Currently, managing the activity of Office Advisory team in Colliers. 

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