Around 500,000 sqm of logistics spaces have been leased in Romania in the first semester of the year, up 38% compared to the same period of last year, with the largest pre-leased surface of almost 88,000 sqm secured in Prahova County, according to property consultancy CBRE Romania.
Compared with record year 2020 when almost 1 million sqm were leased, the total leasing activity from the first semester of 2022 represents 52% of the 2020 overall total leased spaces.
“The rapid expansion of the modern stock, the outstanding leasing demand maintained for two and a half years now, and the logistics developers’ interest to cover previously untapped areas of the country, confirm that Romania’s industrial market succeeds in lining up next to mature CEE markets. The small vacancy rate and the consistent pipeline are markers of continuity on the same path for the industrial market,” says Victor Răchită, Head of Industrial & Logistics at CBRE Romania.
The vacancy rate for industrial and logistics projects reached an average of 3.1% across the country and 2.8% in Bucharest at the end of the first semester.
The industrial stock has exceeded 6 million sqm in the first semester, with another 500,000 sqm expected by the end of 2023.
