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Articles - office market

Romanian real estate market exceeded all expectations in 2020

In 2020, the real estate market registered a 32% increase in investments, the largest transactions accumulated over 2020 mil. Eur, the office segment excepts more than 230.000 new sqm this year, the industrial sector achieved an increase of 60% of new leases compared to the previous year, and the residential section noted an increase of up to 20% in prices for luxury housing, according to the annual report of Crosspoint Real Estate.

The first signs of a come-back for the office market: the pre-lease transactions increase and the renegotiations decrease

The volume of leasing transactions on the Bucharest office market increased in the first quarter of 2021 to 48,000 square meters, a 9% decrease from the similar period of the previous year, when the Covid-19 pandemic was still on its onset in Europe, reveals the research data of the real estate consulting company Cushman & Wakefield Echinox.

Bucharest office market registered a consistent return of demand in the last quarter of 2020

In the last quarter of 2020, in Bucharest there were transactions of office spaces with a total area of 77,000 square meters, the highest quarterly value of the year, thus bringing the annual volume of transactions to approximately 237,000 meters squares, according to the real estate consulting company Cushman & Wakefield Echinox.

The occupancy costs of office spaces represent 3-4% of the turnover of services companies in Bucharest

The occupancy costs of office spaces represent, on average, between 3 and 4% of the turnover of services companies in Bucharest, and they may fall even below 2%, in some cases, according to an analysis of the real estate consultancy company Cushman & Wakefield Echinox.

Bucharest office market continues to develop, amid a slight return in demand in the third quarter

The office market in Bucharest continues to grow, in the first nine months of the year being delivered new spaces with a total area of 124,000 square meters, while developers have in various phases of construction buildings with a cumulative area of 388,000 square meters, according to real estate consulting company Cushman & Wakefield Echinox.

Office market in Bucharest, over 3.3 million sqm

With the end of the year approaching, the impact of the COVID-19 crisis on the global and local economies has become clearer. Despite of the unprecedented situation we are in and the strong blow it dealt to the economy, the Romanian investment market has performed better in the first three quarters of 2020 than in the whole 12 months of 2019.

The future of global office demand – four key factors

Increased working from home doesn’t equate to less demand. A new JLL research identifies four key factors that will play a major role in shaping future office spaces.

The growth of the real estate market in Romania could be affected by the lack of predictability

Colliers International warns that the lack of predictability makes Romania less attractive for real estate investors.

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