about us | newsletter | contact | archive | members area
Corina Popescu, Transelectrica
High need for quality improvement in the public tenders area»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Office vacancy drops below ten per cent in Bucharest for the first time since 2009, says C&W Echinox

Office demand continued to be consistent in the first six months of 2017 and the level of new supply was limited compared with H2 2016. The vacancy rate in Bucharest dropped for the first time since 2009 below ten per cent, according to data from C&W Echinox. At the end of H1 2017, the general vacancy rate stands at 9.3 per cent.

2017-08-30 12:09:06

Looking at submarkets' performance, the lowest vacancy rates are recorded in the Central North area – 4 per cent, followed by West - 4.7 per cent and Pipera South submarket - 5.5 per cent.

The modern office stock in Bucharest is of 2.61 million sqm at the end of H1 2017. Throughout the first half of the year, new supply amounted approximately 75,000 sqm and was delivered in Central, Pipera South and CBD submarkets. Overall, the most developed office area in Bucharest remains the Central North submarket, with 24 per cent of the total stock.

For the second half of 2017, new supply is forecasted to be around 80,000 sqm, with West submarket accounting for more than 75 per cent. Although the number of projects under construction is high, the vast majority of office projects have been postponed for 2018.

Overall, the pipeline for next year exceeds 300,000 sqm. Demand for quality office space is forecasted to follow the same positive trend, while active developers are competing for the interest of large office occupiers. Given the high number of sqm under construction, rental levels are not expected to increase going forward.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  6384 Views
Daily Info
EIB offers Romania 13 billion Euro financing in 25 years

The European Investment Bank (EIB) has granted Romania 13 billion Euro worth of loans since starting its operations in the country, in 1992, according to a report of the insti...

Germanos stores in Romania rebrand into Telekom

Telekom Romania, the second-biggest telecom group on the local market, has started the rebranding process of the Germanos shops into Telekom.

OMV Petrom doubled its profit last year

OMV Petrom had a 2.49 billion RON profit in 2017, more than double than it had recorded in 2016 (1.04 billion RON), according to a report by the company.

Complet Electro Serv appoints Cristian Laza as new CEO

Complet Electro Serv, part of Altex Romania, has appointed Cristian Laza as CEO of Complet Electro Serv, producer and distributor of electric-IT equipments.

Mol Group posts highest profit in a decade in 2017

Mol Group announced its financial results for 2017. Mol increased its EBITDA by 14 per cent outperforming its 2017 target on the back of a strong financial and operational del...

 
 
   
advertising

advertising

advertising

advertising

More on News
President Iohannis meeting Juncker and Tusk in Brussels, modifications in Romanian justice among topics

President Klaus Iohannis is to meet on Wednesday, in Brussels, with President of the European Commission Jean-Claude Juncker and with President of the European Council Dona...

1 Comment

Contract for the purchase of 227 Piranha V armored personnel carriers, signed in presence of PM Tudose

The contract for the purchase of 227 Piranha V armored personnel carriers was signed on Friday in the presence of Prime Minister Mihai Tudose, Deputy Prime Minister Marcel ...

President Iohannis: The Romanian society is mature and active and needs a state to match it

President Klaus Iohannis stated, on the occasion of the annual meeting with the heads of diplomatic missions accredited in Bucharest, that the Romanian society is a mature ...

2 Comments

Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot ...

1 Comment

PM-designate Dancila: "It's important to implement governing programme"

Prime Minister-designate Viorica Dancila stated that it's important to put into practice the governing programme, but also 2018- the Centennial Year and prepare to take ove...

1 Comment

Iohannis: Romania's progress bound to stable legislation able to punish abuses

Romania's progress is inseparably bound to a coherent, stable legislation able to punish abuses and dishonesty, said President Klaus Iohannis, pointing out that the governm...

4 Comments

Mihai Tudose announces his resignation as prime minister

Mihai Tudose announced on Monday evening, at the end of the Social Democrat Party (PSD) National Executive Committee (CExN) meeting, that he resigns as prime minister of Ro...