Office rental activity slows down in Romanian capital

Companies leased 38,000 sqm of offices in Bucharest in the first quarter of the year, with energy, industry and IT&C companies leading the pack, according to Colliers International. The overall lease transactions volume was lower in the first quarter of 2018 than in the same period of 2017. Some 68,000 sqm were leased in total, including new take up, renewals and renegotiations. This was 45% down year-on-year. New take up of 38,000 sqm was 26% below the level registered in the first quarter of 2017, but still above the quarterly average in the last years. The biggest office lease contracts were UPC moving to The Bridge office building, and a confidential deal in the Unirii area, according to Colliers. More firms move from old buildings to modern offices in Bucharest editor@romania-insider.com