Bucharest hotels’ occupancy rate stood at 62% in the first quarter of 2023, up 33% y-o-y, and just 5% below the 2019 level, placing Romania’s capital city second in the CEE region, after Poland’s capital Warsaw, real estate consultancy Cushman & Wakefield data showed.
Studios represent the category most in demand for renting in the last decade. In May 2023 the average monthly rent stood at EUR 331, up by 36.2% from EUR 243 in May 2013, according to Imobiliare.net.
Globalworth, the preeminent office investor in Central and Eastern Europe (CEE) and the forerunner in the Romanian office market, announced it has signed an agreement with eMAG, CEE’s largest ecommerce platform, as a tenant in Globalworth Square building in Bucharest. The deal targets a space of 10,000 sqm GLA and marks the largest new lease contract signed this year in the office real estate landscape in Romania.
Revolution Square, the area around the Romanian Athenaeum, in central Bucharest may become an area reserved for pedestrians after a proposal made by the city’s deputy mayor Stelian Bujduveanu.