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Office Market News

The Romanian investment market grew in the first half of the year

The first half of the “pandemic year” closed with a total value of investment transactions worth 408 million euro in Romania, around 18% above the first semester of 2019, with office assets accounting nearly 86% of volumes, according to Colliers International’s market report for the first semester of 2020.

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The new demand for offices is declining, the occupancy rate remains constant

New office space delivered in the first half of the year reached nearly 105,000 square meters, in tune with Colliers International’s estimates, but total demand in Bucharest was down by nearly 28%, to a bit over 124,000 square meters, while new demand halved after an exceptional year, to under 45,000 square meters.

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New trends: The working day became fragmented

Working hours have shifted to the "THIRD SHIFT": WORK FROM HOME has brought changes, and meetings are becoming more frequent.

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Almost 90 pct of obligations to office building owners were paid by tenants

Almost 90% of tenants paid their obligations on time to the office buildings owners in the first half of the year, even though some spaces were not occupied during the state of emergency.

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The developers plan 100,000 sqm of new offices on Calea Victoriei area of Bucharest

Calea Victoriei in Bucharest, an artery with a length of 2.8 kilometers located between Victoriei Square and United Nations Square, will continue to develop as an office and hotel hub in the coming years, with developers' plans to build seven new office buildings and six hotels as a result of investments that may exceed the threshold of 300 million euros, according to a study conducted by Cushman & Wakefield Echinox.

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Commercial real estate transactions in Romania, 21% up in the first half of the year

The volume of commercial real estate transactions in Romania increased by 21% in the first half of the year, compared to the same period in 2019, and Bucharest accounted for almost 90% of the total, with an estimated value of 410 million euros, a JLL study reveals.

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Transactions on the office market, the historical minimum in the last 5 years

The pandemic severely affected the office market, so office transactions slowed in the second quarter of this year.

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Demand for office space fell by 45% in the first half

The office space market in Bucharest was strongly affected by the coronavirus pandemic in the first half of 2020, the demand in the sector registering a decrease of 45% compared to the same period in 2019, according to an analysis made by the real estate consulting company Avison Young.

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