Office deliveries in Bucharest could break the 300,000 sqm threshold in 2019

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Total demand could set a record-high in 2019

High-frequency indicators suggest that the very near-term outlook remains largely good for the Bucharest office market, with demand still likely in line with the trend seen this economic cycle:

  • the third quater saw a gross demand at 74,800 sqm;
  • the net take-up is still down some 20% in the first three quarters of 2019, to 83,600 sqm;
  • over 100,000 sqm of leasing transactions were generated by relocations from competitive stock in the first 9 months of the year;
  • the vacancy rate remains in a market neutral-area of c.10%;
  • some 66,000 sqm in new modern office buildings came online in the third quarter;
  • there are big chances to break the 300,000 sqm threshold in terms of deliveries;
  • the IT&C segment generated close to 58% of the total market demand;
  • Center West accounted for almost 20% of gross take-up in the first three quarters of the year.

Bucharest Office Q3

Office deliveries in Bucharest could break the 300,000 sqm threshold in 2019

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Related Experts
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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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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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