The office vacancy rate in Bucharest is currently at 15.7 percent with 330,000 sqm still available for lease, according to a report by DTZ Echinox. The capital’s vacancy rate fell just 0.8 percent during the first six months of the year. Roughly 30 percent of the available office space is located in the Pipera district, where the vacancy rate is at 8.5 percent, while in the city’s central and western areas, the vacancy rate is 8 percent, according to DTZ.
Modern office stock in Bucharest reached 2.114 million sqm at the end of June. An additional 132,000 sqm is expected to be delivered by the end of the year, 60 percent of which is already pre-leased.
