The main market is Bucharest, but other sub-markets have experienced a significant development of coworking spaces lately. The trend will certainly continue, as startups are becoming more popular, and new generations, especially the Y generation, prefer independent activities to the detriment of traditional programs.

Realtors appreciate that rents for A-class office space remain unchanged (18-19 euro / sq m / month), but their growth is expected in 2018, as vacancy rates for the most sought-after areas in Bucharest are at a very low level. Owners provide incentives such as free months or budgets for fitting out and equipping workspaces, so net rents are about 10% -15% lower than the rents required. However, the low vacancy rate will result in a decrease in these incentives. The level of rent of an underground parking space varies between 50 and 80 euro / month.

The vacancy rate declined in Bucharest in 2017 to 8.5% (about 233,750 sq m of vacant office space). In Q1 2018, the vacancy rate remained roughly the same because no new spaces were delivered in the first months of this year. However, real estate experts expect the vacancy rate to rise by 2% -3% by the end of the year, when seven new projects will be delivered to the Bucharest market.

In total, nearly 200,000 square meters will be added this year to the total office stock in Bucharest, which was forecast to reach about 3 million square meters by the end of the year. However, the postponed delivery of three buildings with a GLA of over 65,000 square meters means that the estimated 3 million sq m of stock will be reached in early 2019. (source: sfin.ro)