In the first half of 2016, office space transacted in Bucharest totaled 192,000 sqm.
Net demand for office space in Bucharest totaled nearly 80,000 sqm in the first six months, meaning around 10,000 extra jobs considering each employee has an allocated space of 8 sqm.
The biggest office space development delivered in the first half of the year is Timpuri Noi Square, developed by Vastint, with an area of 33,000 sqm.
Bucharest’s office space stock stands at around 2.43 million sqm and the average vacancy rate dropped to around 9%, a market low after the financial crisis, due to fewer deliveries planned this year and sustained demand.