Total leasing activity reached 144,000 sqm for the Romanian office sector in Q4, according to CBRE latest market report. Total leasing activity for the whole year amounted to 412,000 sqm, with renewals and renegotiations making up 120,000 sqm. Expansions and new leases made up around 50,000 sqm or 35 percent of the total volume.
CBRE forecasts that another 592,000 sqm will be added to the Bucharest office market over the next two years, with the city’s West sub-market accounting for 40 percent of the new stock, followed by the Pipera and North sub-markets with 37 percent of the total. Bucharest’s Central sub-market is expected to make up 15 percent of the new supply.
