CIBR Blog

The total office supply in Bucharest reached 1.19 million sq m in 2008, a
level close to the one registered in Kiev and Bratislava.

The new supply reached around 240,000 sq m for 2008, a 4% decrease
compared to 2007. The influence of financial market constraints caused
projects to be cancelled and building delivery dates delayed. Over the year 2008 the new supply showed that the subzone market share continued to be predominately focused on the northern area. There was gain by the centre-west area (+15.6%) and the centre (+13%) year-on-year. There are also new emerging locations such as the western zone being represented by 6.8% from the total existing stock. The take-up volume increased by 11.1% compared to 2007. The take-up split by subzone shows that demand was predominantly focused on the north and centre-north areas, both accounting for 63.5% from the total amount registered at year end. The most active companies in
relocating and expanding their activity were in the Financial Service (32.5%), Industrial, Manufacturing and Trading sectors (20.7%) and Information, Communication and Technologies (16.4%); almost half of the take-up volume was represented by lease agreements signed before completion of the buildings.

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