Research

Bucharest City Report Q2 2021

JLL presents the latest Romanian real estate market research

September 13, 2021

The COVID-19 pandemic still has a pronounced effect on office demand. The impact is however lower than in the previous year. We expect to see a slight increase in demand during the next two quarters.

Only one office building was delivered in Q2 2021, TiriacTower, in the CBD, with approximately 16,500m² GLA. This is 44% below the deliveries in the previous quarter.

However, the modern office stock in Bucharest surpassed the 3 million m² mark, reaching 3,001,700 m² at the end of Q2.

The retail market is slowly recovering, as most restrictions related to the pandemic have been lifted. However, it is possible for some restrictions to return, if the course of the pandemic demands this.

The industrial and logistics sector in Romania performed very well during H1 2021, and we expect this trend to be maintained during the second half of the year, with a healthy balance between supply and demand.

The post-COVID residential market will resettle to a new normality at different levels from the pre-COVID period. The parameters of the demand have changed over the last year, the new hybrid approach work-from-home / work-from-office will impact the future design of the residential products.

Fill out this form to download report

There was an error submitting the form. Please try again. 

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.