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Articles - office stock

Modern office stock in major regional cities exceeds 1 millon sqm

Developers finalized the construction of 83,000 sq. m of new office projects in the major regional cities (Cluj – Napoca, Timisoara, Iasi and Brasov) in 2023, as the modern office stock exceeded the 1 million sq. m threshold, representing around 30% of the corresponding total in Bucharest. Iasi is the only city which benefited from the delivery of office projects throughout 2023, as it overtook Timisoara and thus became the second – largest regional hub outside Bucharest, after Cluj-Napoca, according to the Cushman & Wakefield Echinox Office Market Regional Cities report.

Romania modern stock of office spaces reached over 4.3 mln sqm in Q2

With 76% of the modern stock of office spaces in Bucharest, the office segment has reached over 4.3 mln. sq m all over the country in the first semester of 2022, according to the Romania Office Destinations 2022 research special report, launched by CBRE Romania.

Cluj-Napoca has the most office projects in the pipeline, after Bucharest

The market of modern office spaces in Cluj-Napoca is the second largest in the country, after Bucharest and is expected to remain so in the coming years. Real estate investors plan eight class A office buildings in Cluj-Napoca, which will have a total area of 130,016 square meters, until 2025, which is about half of the current stock of modern offices in the city, according to an analysis conducted by Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance.

Available office space in Cluj – Napoca drops dramatically

The total A Class office space due to be delivered this year in Cluj – Napoca will decrease by 85% compared to last year, which led to a drastic reduction in available office space for rent.

The modern office stock in Bucharest has exceeded 3 million square meters

Office market activity remained relatively low in the first half of 2021, with limited signs of a return to pre-pandemic levels, as companies are still unclear as to when most employees will return to office, according to the Colliers market report for the first half of 2021.

The office market neared the 3 million square meters milestone

2020 was one the poorest in the last decade for the Bucharest office market in terms of demand, reflecting uncertainties generated by the effects of the Covid-19 pandemic on the tenants’ plans.

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.

Developers will deliver in the next 16 months almost 500,000 square meters of modern offices in Bucharest and the regional cities

The office market in Bucharest and in the major regional cities – Cluj-Napoca, Timișoara, Iași and Brașov – continues to develop, with local and foreign investors having projects under construction or scheduled for delivery with an area of approximately 500,000 square meters that will be put into use in the next 16 months, according to Bucharest Office Market and Office Regional Cities Reports, realised by the real estate consulting company Cushman & Wakefield Echinox.
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