2025-03-12-莱坊-Central_South_East_Europe_Office_Market_Overview_2024-2025_21页_10mb

报告摘要

Total Office Market: Overview discussed.
Bucharest: 3.44 million sq m Class A/B stock (up 2.21% YoY). 329K sq m demand in 2024 (50% renewals, 30% relocations, 12% new, 7% expansion, 1% pre-lease). Prime rent~22 EUR/m²/mo (CBD), vacancy rate 12%. Large transactions (>5,000 sq m) dominant.
New Deliveries: 3.44M (overall), 29K sq m expected for 2025.
Trends: Focus on prime CBD locations near transit; incentives for staying united over 25% YoY drop in demand, driven by costs; new developments rising in 2025-2027; increased focus on sustainability, well-being, tech-integration.

Total Office Market: Overview discussed.
Budapest: 4.45M total sq m stock. 103,640 sq m delivered in 2024.
CBD: High concentration, prime rent 28 EUR/m²/mo, vacancy rate 14.1%. Key submarkets: Central Pest (most deals), Váci Corridor. Mixed-use developments noted. Future supply low until 2025-2026.
Submarket Vacancy: Notable differences - lowest in Central Buda (8.0%), highest in Periphery (28.6%).
Trends: Demand driven by new work/surrender/expansion; price divergence between new, modern spaces and older stock expected to increase; vacancy rates rising due to lower new supply and shifts out of aging stock; corporate HQs still preferring modern spaces, sometimes via demolition/renovation.
Forecast: Low new supply projected for 2025-2026. Risk of vacancy significant core stock if development pipeline materializes speedily post-holdup. Competition likely to increase for outdated stock; market dynamics driven by quality/age.

Total Office Market: Overview discussed.
Sofia: Strong growth. 2.41M sq m (CBD ~589K, Broad Center ~500K, Suburban ~1.3M). 194K sq m in pipeline. Prime rent increased to ~18.50 EUR/m²/mo. Demand from IT/FIRE/Professional Services still strong but diverse.
Net Absorption: Positive Q3/Q4 2024. Shift to flexible/serviced office stock (surpassed 110,000 sq m total stock).
Trends: Shift away from purely CBD for some sectors; renewed market sentiment easing cost pressures; co-working/flex needed for hybrid adaptability; prime rent increase signals supplier confidence and controlled availability; concerns remain for Class B/older submarkets.
Forecast: Positive momentum expected. Premium rents driven by limited high-quality space. Green certify focus expected. New supply continues, potentially leading to structural vacancies in less robust submarkets.

Total Office Market: Overview discussed. 2.94M sq m stock by end 2024.
Athens CBD: Prime rent high (~32 EUR/m²/mo average, 37 for super prime), vacancies low (5%). Expansion planned till 2027 (e.g., Technical Chamber property, Grid, New Piraeus Courthouse, Votanikos Business Park).
North & South Submarkets: Strong demand drivers, particularly South CBD. Piraeus also developing as hub.
Trends: CBD significantly maturing; high density of Tech/Finance companies; expectations for price surge due to quality and scarcity; focus on ESG/certification ("Green Escape" project), well-being features in buildings.
Forecast: Demand strong pushing prices up further. Significant new supply pipeline due early 2025, potentially changing market dynamics. Role of sustainable design and technology increasingly important.

Total Office Market: Overview discussed. 1.34M sq m total stock, headlined 18 EUR/m²/mo.
City Center: Prime rent range 15-20 EUR/m²/mo (higher for Class A/BC/Banat Centar). City Center vacancy 5%, driven by demand for modern/new space.
New Belgrade: Key focus & delivery area for 2024/2025. Rents for Suburban/Medical/pharma mentioned.
Trends: Demand solid, driven by economy & IT sectors. City Center expansion paused post 2023 buildout. Suburban options gaining popularity. Low vacancy expected despite potential new supply in 2025. Focus on flexible/sustainable (higher floor area targets for future projects).
Forecast: Revitalization ongoing. Belgrade office market expected to remain strong, driven by flexible, sustainable options, and ongoing development. Main focus will likely be construction of green-certified buildings combined with tech integration.

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