The total volume of office leases in Bucharest last year amounted to 238,862 sqm, according to data released by local real estate consultants. The volume is almost 10 percent less than what was reported the previous year.
The transaction volume includes relocations (90,000 sqm), expansions (18,600 sqm), pre-leasings (59,000 sqm) and renegotiations or contract renewals (70,500 sqm).
Pre-leasings for 2012 were up 50 percent from the previous year, signaling that companies like Oracle, Raiffeisen, TeamNet, BASF, Endava and Microchip are regaining confidence in local market and are beginning to make long-term plans again.
