“Company office utilization is starting to gradually increase as in the first half of this year we saw 50% of employees working mainly from the office, compared with 36% in the May-December 2020 period. Moreover, a rising number of employees want to go back to the office at least 2 days per week. In this context, we see an increasing number of companies finalizing strategies related to employees’ way of working and implicitly to office space utilization, which creates more predictability on the office market,” said Madalina Cojocaru, Partner Office Agency, Cushman & Wakefield Echinox.
The new supply will gradually decline, though, as projects due to be completed in 2022 will deliver just 138,000 square meters on the market, almost matching the area built only in the third quarter of this year.
New office deliveries in Bucharest totaled 132,000 square meters in the third quarter of this year, the highest quarterly value ever registered, thus driving the volume of new spaces completed in the first nine months to 178,000 square meters, in line with Cushman & Wakefield Echinox data.
The area of projects delivered in January-September 2021 thus went beyond the level recorded for the full-year 2020.
(English version by Catalina Apostoiu)