Demand for office space in Bucharest fell by nearly 50 percent in the first three months of this year, according to JLL. Transactions totaled roughly 55,000 sqm, just about half of the volume recorded in the fourth quarter of 2019 as well as the first quarter of 2019.
Although expectations were high at the beginning of 2020, the coronavirus pandemic led to a sudden slowdown for office deals. āAs the medical emergency unfolds, we can expect a further drop in demand during the second quarter. During this time, it is difficult to estimate the volume of transactions for 2020, because there are many unknown factors and uncertainties related to Covid-19,ā JLL wrote in a report.
