Companies continued to rent higher class A offices for their employees, choosing the university centers of Bucharest, Timișoara, Iași, Cluj Napoca, Brașov and Sibiu. In Bucharest, the demand for offices was five times higher than the cumulative demand in the five big cities, where most transactions took place, according to an analysis by Fortim Trusted Advisors, a member of the BNP Paribas Real Estate Alliance.
The first half of 2022 closed with a total value of investment transactions worth 336 million euro in Romania, up by c.13% compared to the first semester of 2021, with office assets accounting nearly 63% of volumes, according to Colliers market report for the first semester of 2022.
There has only been one office delivery in Q2 2022 in Bucharest, namely the second building (25,000 sq. m GLA) of the AFI Tech Park project located in the Center – West submarket, with the total office stock in Bucharest reaching 3.3 million sq. m. This delivery pushed forward the Center-West area to first place in the top Bucharest office hubs, the stock of 579,600 sq.m overtaking Floreasca – Barbu Vacarescu area, which sums up 569,700 sq.m, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
Skanska's commercial development division in Central and Eastern Europe announces the structure of the new Leasing and Asset team, consisting of Anamaria Crețu and Tamara Guleryuz as Leasing & Asset Managers.
Deloitte Romania assisted Hili Properties, the strategic real estate investment subsidiary of the Maltese group Hili Ventures, in the acquisition of 75% of Baneasa Real Estate’s shares, the owner of the MIRO office building in Bucharest, from the real estate developer Speedwell. MIRO is a class A mixed-use building of 24,700 square meters located on DN1. The transaction was signed in August 2022.
With 76% of the modern stock of office spaces in Bucharest, the office segment has reached over 4.3 mln. sq m all over the country in the first semester of 2022, according to the Romania Office Destinations 2022 research special report, launched by CBRE Romania.
The total investment volume in Romania reached EUR 323 mln in the first half of 2022, 6% higher compared with the amount transacted in the same period of the previous year, according to the Romania Real Estate Market Outlook 2022 research special report, launched by CBRE Romania.
The Bucharest office market returned to pre-pandemic levels, the industrial and logistics spaces are going from strength to strength, while the investment market could reach its highest level in more than 10 years, according to Colliers’ Mid-Year Report for 2022.
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