Companies rented in Bucharest, over the first nine months of the year, more new office space than in the same period in 2020 and even in 2019 or 2018, when it comes to the market segment of up to 1,000 sqm, according to a report by ESOP Consulting quoted by Profit.ro.

In total, in the first three quarters of 2021, 107 small office spaces were rented totaling 46,405 sqm, while in 2020, only 44 small spaces were rented, with a total of 17,739 sqm. In 2019, 103 spaces were rented, with a total of 44,105 sqm.

On the other hand, however, there were fewer transactions with spaces of over 1,000 sqm, and their volume is small than in previous years. According to the analysis, SMEs are the tenants that set the office market in motion this year.

"In the first nine months of 2021, we noticed a greater dynamism in the market segment of relocations of office space, from small and medium-sized companies and we estimate that large companies could become more active in the relocation market as early as during 2022, if the epidemiological situation improves," Alexandru Petrescu, managing partner at ESOP Consulting, said.

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andrei@romania-insider.com