Blog Archives

Fully Fitted & Furnished Office Space Available for Sublease in AFI Park Floreasca Sublease a ready-to-use office space in a top A-class business campus located in northern Bucharest – offering modern amenities, excellent accessibility, and a prime location in a dynamic business hub.

As the stay-at-home restrictions are lifted, organizations are beginning to bring employees back into the physical workplace. The “Recovery Readiness: A How-to Guide for Reopening your Workplace,” outlines some of the best thinking, insights and practices compiled globally. The recommendations have already been successfully implemented internationally and at Cushman & Wakefield Echinox office. This comprehensive guide is the first step in applying the health ...

In Q1 2020, new deliveries totaling almost 81,000 sq. m have been completed, a level almost similar to the same period last year. Covid-19 pandemic impacts the leasing activity In Q1 2020, total leasing activity in Bucharest was of 52,000 sq. m, with net take-up having a share of 75% and the West submarket attracting 48% of the total demand. The pipeline remains robust ...

The Bucharest office market could have a record year in terms of deliveries in 2019, provided that all the announced projects are finalized on time, a scenario in which modern office spaces with a total area of ​​about 377,000 square meters will have been delivered in the capital city. In the first half of the year, 128,000 square meters have been delivered, consisting of ...

The health and safety guide translated in Romanian contains the best international and national insights and practices for the safe returning of employees in office buildings and how to adapt to the new normality. The recommendations have already been successfully implemented internationally and at the Cushman & Wakefield Echinox office. We look forward to learn more about how we can help. For more details, ...

Back 2 Office Study shares Cushman & Wakefield Echinox research findings resulted from a survey applied between 21-29 May 2020 on a number of 33 office occupiers companies from Bucharest and Cluj with a total of over 17,000 employees working in office buildings. With the ease of travel restrictions imposed by the Covid-19 pandemic, companies will begin to resume their activity in the office ...

Romanian employees who had to work more from home in the last 18 months due to the COVID-19 pandemic want to return to the office, given that more than half of them associate coming back to the office with “the return to normality” and experience a lack of socializing with their colleagues, according to Cushman & Wakefield Echinox “Back to the Office” study. The ...

The total leasing activity in Bucharest was of 48,000 sq. m in Q1 2021, with net take-up (excluding renewals) having a robust share of 71%. Compared to Q1 2020, when Covid-19 pandemic was in early stages, demand recorded an 8.6% decrease, thus showing some initial signs of recovery.

The modern office stock of Bucharest almost reached the 3 million sq. m threshold (excluding owner occupier buildings and approximately 3.1 million sq. m including those as well), while the vacancy rate increased to 12.5% overall.

The reality of an effective vaccine and the prospect of widespread vaccinations has sparked hopes for 2021 and speculation about recovery. Cushman & Wakefield Research has identified nine signs to watch, signals that could indicate the CRE market and the global economy are transitioning to a recovery phase. Discover them downloading the study.

This study is the second in a four-part series that provides a new perspective on COVID-19’s impact on the commercial real estate (CRE) industry and the future of the office. The office is more than just a building – it’s a place where people come together to build connections, collaborate and innovate. The global pandemic has accelerated an evolution of the workplace and forced ...

The total new supply for the first nine months of 2020 reached 124,000 sq. m, reflecting a 35% y-o-y decline. The modern office stock of Bucharest reached 2.9 million sq. m. Covid-19 remains a leasing activity disruptor In Q3 2020, the total leasing activity in Bucharest was of 63,600 sq. m, with net take-up having a share of only 46%, since most transactions were ...

The “Back to office: An office employees survey” outlines how the employees managed to adapt to the new working conditions, with the advantages and disadvantages of the new work from home or from the office experience. Employees will migrate towards a hybrid working environment, therefore office developers will have to adapt their projects to the new work-frame. The October 2020 Edition is the result ...

The “Recovery Readiness: A How-to Guide for Reopening your Workplace” outlines some of the best thinking and practices implemented with success by Cushman & Wakefield and compiled globally with insights from key partners. The September 2020 Edition has new material from our ongoing work with clients, employees and survey responses: examples of the strategies and actions, additional insights from our XSF@home survey of more ...

The most active market remains Bucharest, with projects of about 340,000 square meters scheduled for delivery by the end of 2021. At the end of the first semester, the modern office stock in Bucharest was about 2.9 million square meters leasable area, without taking into account the buildings occupied directly by the owners. Bucharest Office Market 2020 shares Cushman & Wakefield Echinox latest research ...

The most active market after Bucharest, with projects scheduled for delivery by the end of 2021 are Timişoara, Cluj-Napoca and Braşov. At the end of the first semester, the modern office stock in regional cities approaches the 1 million square meters threshold, the largest markets being Cluj-Napoca (347,000 sqm), Timişoara (245,000 sqm) and Iaşi (226,000 sqm). Romania Office Market Regional Cities 2020 shares Cushman ...

Developers announced the construction of more than 275,000 sq. m of new office projects in the major regional cities – Cluj-Napoca, Timisoara, Iasi and Brasov, and therefore the modern office stock should reach approximately 1.3 million sq. m in the next 5 years. An increasing development activity has been noticed, especially when compared with the 2021 – 2022 period, when close to 70,000 sq ...

Around 500,000 sq. m of office spaces are unoccupied in Bucharest, reflecting a vacancy rate of 15.2%, the highest availability being reported in the Pipera North, Center-West and Floreasca – Barbu Vacarescu submarkets. There is still a significant discrepancy between A and B-class projects in terms of vacancy rates, a difference which could be addressed through investments made with the purpose of modernizing and ...

The Q4 2022 office supply in Bucharest consisted of the 2nd building of the Equilibrium project (19,900 sq. m GLA) developed by Skanska in the Floreasca – Barbu Vacarescu submarket, thus bringing the total 2022 new supply to 124,000 sq. m GLA, the lowest such total since 2015. Therefore, the office stock in Bucharest was of 3.32 million sq. m at the end of ...

The prime headline rent in Bucharest continued to increase in Q3 2022, reaching a level of around €19.50/ sq. m/month in the CBD area, with further increases expected in other submarkets in the following 6 – 12 months due to the relatively low office pipeline. There are currently new office projects of 129,000 sq. m GLA which are under construction, a low pipeline compared ...

The prime headline rent in Bucharest has seen a small increase in Q2 2022 to a level of around €19.00/ sq. m/month in the CBD area, a trend which is also expected in other high profile submarkets such as Center and Floreasca – Barbu Vacarescu by the end of the year. The existing pipeline of under construction office projects (134,000 sq. m GLA) is ...

In Q4 2021, there have been two new office buildings delivered in Bucharest, namely the first phase of the One Cotroceni Park mixed-use project (46,000 sq. m GLA) and Miro Offices (22,900 sq. m GLA), thus bringing the total new supply in 2021 at 244,300 sq. m, corresponding to an increase of 57% when compared with 2020. The financial sector, medical service operators, the ...

The y-o-y inflation rate reached 14.9% in Q1 2023 in Romania, a level which remains relatively high, but prices have been on a downward trend since the beginning of the year and the forecasts are now more optimistic, with single digit levels being expected before the end of 2023. The monetary policy rate has also been stabilized, as it has not been increased from ...

Throughout 2015 gross take-up in the main regional cities amounted ~70,000 sq. m, being higher by 25% when compared with 2014. Net take-up represented 90%, with approximately 60,000 sq. m transacted and was divided between new demand (80%) and relocations within A & B stock. Pre-lease activity improved significantly. Compared with 2014, the office area subject of pre-lease transactions in 2015 was three times ...

Throughout 2015 Bucharest’s modern office stock increased by 4%. At the end of Q4, existing class A and B office space exceeds 2.25 million sq. m. Overall, 7 office buildings were delivered last year, having a total GLA of 85,000 sq. m. This represents the lowest level of supply registered in the last 3 years. For 2016, the level of office supply is projected ...

Overview Q4 2015 GDP growth has been revised up to 0.6%, while there have also been upward revisions to growth in previous quarters, mainly due to a stronger than expected performance in the services sector. Full year growth for 2015 is now estimated to have been 2.3%. Downside risks remain, however, with concerns rising over global economic and financial uncertainty and the possibility of ...