Lease agreements on the Bucharest office market fell by 25 percent this year compared with 2011, according to a DTZ study. In the first nine months of 2012, leases agreements reached just 131,000 sqm. DTZ is estimating that by the end of the year, agreements will reach 170,000 sqm to 180,000 sqm. In 2011, 225,000 sqm of office space was leased in the capital.
Around 30,000 sqm of offices were leased in Bucharest in Q3, 55 percent less than the same period last year. Most of transactions were completed in western and northern Bucharest.
The rental market was dominated by the IT&C sector, representing about 56 percent of the total rents.
