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Real Estate: Vacancy rate on Bucharest office market to rise this year

Office space deliveries in Bucharest will decrease this year to 200,000 square meters (sqm), from over 286,000 sqm in 2019, but are expected to reach 500,000 sqm in 2021, according to estimates included in an analysis made by the real estate consulting company Colliers International. In the medium term, this will predictably increase the competition between developers, and between developers and owners of existing modern buildings, who were left with 140,000 sqm vacant space after ...

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