The leasing activity on the local office and logistic market increased significantly in the first nine months of this year compared to the same period of 2015 driven by new demand, according to real estate consultancy firm JLL Romania.

On the office segment, the surfaces leased in the first nine months of this year were higher than the total area rented in 2015, reaching 250,000 sqm. The new demand represented some 45% of the total leased surface, namely some 110,000 sqm.

“Companies rented office spaces in Bucharest for at least 11,000 new employees in the first nine months of the year," said Andrei Drosu, research consultant for JLL Romania.

Developers finished 221,000 sqm of new offices in the first nine months and the total office inventory reached 2.5 million sqm. Another 77,500 sqm should be finalized by the end of this year.

Companies also rented logistics and industrial spaces totaling over 310,000 sqm in Romania in the first nine months of this year. The new demand accounted for 60% of the total leased surface, or 200,000 sqm. Some 65% of the demand was in Bucharest’s area. The demand for logistic space in 2016 is expected to reach 350,000 sqm.

Almost 275,000 sqm of logistic and industrial space have been delivered in Romania, in the first nine months of this year, taking the total inventory to 2.5 million sqm.

editor@romania-insider.com