While the spread of the COVID-19 coronavirus continues to have major implications for public health and economic stability around the world, we are doing our very best to understand the real estate sector and to communicate our insights. For this reason, Colliers conducted surveys involving top office landlords and developers in Romania, mainly between 3rd and 9th of April, 2020. In the following report we are presenting the agregated market sentiment of 60 respondents.
Although a significant part of the landlords stated that they were already negatively impacted, there is a high level of trust in the capability of the local office market to recover in 2021. This is reflected also in the fact that they expect rent level and vacancy rate to remain rather stable in the next 12 - 18 months. The other side of the coin is given by the tenants’ view of the current situation and their plan of rethinking the business needs in a market where companies were forced to experience work from home.
