Colliers: The volume of industrial and logistics leasing transactions outside Bucharest reached a record high last year as a share of total
photo source: www.thediplomat.ro
2023 ended with solid activity levels for industrial and logistics, with some 770,000 square meters of leasing deals closed, a slight decline from 2022’s record level of 830,000 square meters, according to the annual report released by Colliers.
The consultants note that probably these results do not reflect entirely the true depth of the local market, because the only information included is publicly available (either deals reported by the local research forum or deals communicated via press releases or in reports for investors in the case of listed companies).
Colliers consultants explain that unofficial data and analysis of fluctuations in vacancy rates indicate that actual demand is at least 25 percent higher, meaning that the one million square meters benchmark has probably been crossed (again) in 2023. While still an impressive figure overall, when looking at the actual leased space, only around 38 percent of rental demand came from Bucharest, down from 48 percent the previous year and 63 percent in 2021. Read more…
