Colliers: Bucharest’s Service-Based Economy Relatively Shielded from Pandemic

Colliers said the Romanian capital is somewhat shielded largely due to the city’s economy which is based on IT, scientific and professional services, similar to that of European cities like Dublin, Paris and London. However, Romania’s high integration in global production cycles suggests its economy will face considerable pressure in the upcoming period.

“Even though the office market in Bucharest seems to be a bit more shielded from issues affecting the global economy, this doesn’t mean we can’t see an increase in vacancy or additional pressure on office rents. However, numbers suggest that even in a negative scenario, Bucharest would suffer kess than other office markets or at least has the potential to recover faster,” said Silviu Pop, Head of Research at Colliers International.