{"id":123870,"date":"2016-01-21T00:00:00","date_gmt":"2016-01-20T22:00:00","guid":{"rendered":"https:\/\/rhn.ro\/office-market-record-deliveries-in-2016-over-400000-sqm-of-new-offices-in-bucharest\/"},"modified":"2026-03-28T18:31:13","modified_gmt":"2026-03-28T16:31:13","slug":"office-market-record-deliveries-in-2016-over-400000-sqm-of-new-offices-in-bucharest","status":"publish","type":"post","link":"https:\/\/rhn.ro\/en\/office-market-record-deliveries-in-2016-over-400000-sqm-of-new-offices-in-bucharest\/","title":{"rendered":"Office Market: Record Deliveries in 2016 \u2013 Over 400,000 sqm of New Offices in Bucharest"},"content":{"rendered":"
The office space segment is enjoying the most intense activity in the real estate market. 2016 will bring a record for this segment: 408,000 sqm of new offices will be delivered, representing an increase of over 500% compared to the previous year, according to CBRE data. The delivered volume is 10% higher than in 2009, the year that recorded the historical peak of the local real estate market.<\/div>\n
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Office spaces continue to represent a profitable business, a fact confirmed by the large number of new projects. The change in legislation at the end of 2015 has a positive impact on this segment, as numerous companies are forced to move toward high-quality office buildings. Compared to the year just ended, in Bucharest, in 2016, a volume of office space more than five times larger will be delivered, specifically 408,000 sqm, compared to 72,500 sqm. According to CBRE, this represents a record for the capital’s market, exceeding by ten percent the maximum reached six years ago.<\/div>\n
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\u201cIt is the second consecutive year in which the trend, noted since 2014, of increasing demand for new spaces and expanding leased spaces is consolidating, to the detriment of simple renegotiations that characterized the period of hesitation and market distrust in previous years. It is an excellent signal of growing confidence in the Romanian market, in line with the general economic growth reported by the National Institute of Statistics. The figures speak for themselves: new businesses needing office space have practically doubled demand in the last two years, from 28,700 sqm in 2013 to 52,800 sqm in 2015,\u201d states Mihai Paduroiu, Head of Office Agency, CBRE Romania.<\/div>\n
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The total volume of office space leased last year was 240,000 sqm, 20% less than in 2014. The 2015 figures represent \u201cthe result of the market context from the crisis years 2009-2010, when few transactions were concluded, the vast majority for five years. Thus, few contracts expired last year, meaning few tenants were in a position to look for space, and leasing is expected to resume its growth in 2016, due to the substantial number of mandates expected to be concluded in the next 9-12 months,\u201d according to the latest CBRE report.<\/div>\n
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For 2017, the delivery of another 315,000 sqm is planned, so that the spaces delivered in the 2016-2017 period will represent one-third of the total existing office space in Bucharest. The West of the capital will be the area with the greatest development: more than half of the office spaces inaugurated in 2017 will be delivered here.<\/div>\n
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\u201cReal estate market reconfiguration trends clearly show a migration of demand from the North and Pipera toward the West, which will lead to a revitalization of the Bucharest market. The most active industry in the real estate market continues to be IT&C; companies in this sector have leased 330,000 sqm of office space in the last three years, with their demand in 2015 representing 51% of the total demand,\u201d conclude CBRE representatives.<\/div>\n
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Source: Imopedia\/Media<\/a><\/p>\n

Frequently Asked Questions<\/h3>\n

What was the record volume of office space delivered in Bucharest in 2016?<\/strong><\/p>\n

In 2016, a historical record of 408,000 sqm of new office space was delivered, representing an increase of over 500% compared to the previous year.<\/p>\n

Which industry dominates the demand for office space in Bucharest?<\/strong><\/p>\n

The IT&C industry remains the most active, with companies in this sector accounting for 51% of the total demand for office space in 2015.<\/p>\n

To which areas of Bucharest is the demand for office space shifting?<\/strong><\/p>\n

There is a clear migration of demand from the North and Pipera areas toward the West of the capital, which is becoming a major development hub.<\/p>\n","protected":false},"excerpt":{"rendered":"

The office space segment is enjoying the most intense activity in the real estate market. 2016 will bring a record for this segment: 408,000 sqm of new offices will be delivered, representing an increase of over 500% compared to the previous year, according to CBRE data. The delivered volume is 10% higher than in 2009,…<\/p>\n","protected":false},"author":0,"featured_media":65867,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2857],"tags":[],"thb-sponsors":[],"class_list":["post-123870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transactions"],"article_style_override":"","post-style":"","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/tranzactii-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/123870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=123870"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/123870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/65867"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=123870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=123870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=123870"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=123870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}