The office market is thus grinding to a halt after years where at least 200-300,000 square meters were delivered annually.
The modern office inventory in Bucharest at end-2022 reached 3.4 million square meters and around half of the market is made up of buildings older than 10 years and the rest delivered starting 2021.
Colliers consultants expect a total of around 360,000 square meters to be delivered in the 2022-2024 period, though the 2024 calendar may be delayed.
The biggest building due to be delivered in 2023 is U Center II of Tineretului, developed by Forte Partners.
(English version by Catalina Apostoiu)