Office take-up in Romania up 24%

Office take-up between January and September increased by 24 percent y-o-y in Romania, totaling 339,100 sqm, according to real estate consultancy ESOP, with a total of 90,810 sqm in deals signed in the third quarter alone. The country’s largest office markets are Bucharest, Cluj-Napoca and Timisoara. “The office market is on an upward trend, it is a period of development and expansion for both multinational and local companies. The companies were especially attracted by pre-renting spaces in the new projects, the segment of the pre-renting registering an increase by 40 percent in the first three quarters of this year, compared to the same period of last year, to 96,000 sqm in 2019,” said Alexandru Petrescu, managing partner at ESOP.