New leasing demand declined by 18%, but new demand was flat from 2023.
„(…) New demand remains below the annual average of the past decade, of 126,000 square meters, and way below the 2017 record high, of around 170,000 square meters. This points to slower market growth and more cautious expansion among companies,” explains Victor Cosconel, Partner | Head of Leasing | Office & Industrial Agencies at Colliers.
The IT&C sector remained the main engine of leasing demand, covering 37% of the total, followed by professional and business services, with 18%.
The level of rents largely stabilized, but in downtown areas upward pressures remain. The vacancy rate slightly overshot 14% in mid-2024.
In an unstable economic and political context, large companies will remain cautious in the coming period, underscore Colliers consultants.
(English version by Catalina Apostoiu)