Just one office building was completed in the first quarter in Bucharest, according to the most recent report of CBRE Romania.
The Barbu Vacarescu Office offers just 2,000 sqm, and while the real estate agency expects the pace of completions to speed up considerably as the year progresses, the 100,000 sqm in total deliveries it’s forecasting would represent a fall of 20 percent compared to 2011.
In this context, CBRE suggests that rents could begin climbing. The demand for offices in Bucharest in the first quarter of 2012, was 45,000 sqm, which was similar to the levels achieved over the first three months of 2011.
