The office market has shown some signs of a rebound, but currentdemand from companies is not enough to fill all the empty spaces inBucharest, so that some office owners risk seeing their buildingsstill vacant. The vacancy rate of Bucharest office spaces has risentoward 20%, but consultants particularly account for this by theprojects of Pipera area, where several buildings are almost empty.Nevertheless, the situation of downtown Bucharest is not better,either, particularly as regards the new projects. The developersnow finishing projects generally built at quite high costs, on theback of estimates of rent incomes that are hard to reach during thecurrent period. Primavera Development developer has been trying,for more than a year, to attract tenants to a building in PiataVictoriei, whose structure has been finalised, Search Corporationstill has enough lettable floors in Crystal Tower project underconstruction on Iancu de Hunedoara Boulevard, and many of thealready finalised projects do not have a 100% occupancy rate, yet.
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