Office space deliveries cumulated 125,813 sqm in January-June 2010.
“The diminishing of office space available in Bucharest overlaps with an intensification of rental activity on this segment, as net take-up rose some 30% on the year, to 105,000 sqm, from 82,500 sqm,” according to DTZ.
In the timeframe analyzed, developers delivered 3,500 sqm in Frumoasa Office Building, 7,150 sqm in Phoenix Tower and 2,300 in Romana Office Building.
“Considering a constant pace of deliveries and rentals … we expect to see an increase in rents, which could overshoot EUR18.5-19.5/sqm/month in prime locations by the end of the year,” DTZ concluded.