Moreover, the agency reports the delivery of 9,550 sq m new offices within two projects in Bucharest’s Central Business District.
The average size of the office transactions have increased from 1,800 to 2,400 m2 year on year. More than 55 pct of the total registered take-up was represented by renegotiations/renewals.
The largest transaction registered was a renewal in Pipera, with 20,000 m2, followed by 10,000 m2 in Calea Floreasca/Barbu Văcărescu and 10,000 m2 in Piața Presei Libere. 

Calea Floreasca/Barbu Văcărescu was the leader segment of the zones, with 30 pct, of the total take-up in first quarter. 

”The market continues its ascending trend after a record year 2016, even if there won’t be as many deliveries. It is interesting to follow what will happen in the centre, CBD and Pipera, where was the largest transaction of the year by now”, has declared Horațiu Florescu, Chairman & CEO Knight Frank Romania. 

"The two projects delivered by now in 2017 - Aviatorilor 8A and Dorobanților 33 – represent only 5 pct. of the office spaces we estimate by the end of the year, which will total more than 190,000 square metres. More than 50 pct. of the deliveries estimated for 2017 will be made in centre-west, being followed with 30 pct by Dimitrie-Pompeiu zone, but we see an increasing activity in the centre and CBD. The Landmark, the newest office building here, is of great interest ", Knight Frank representative added.

The office division of Knight Frank Romania has transacted nearly 31,000 square metres in the first quarter of this year. (Source: