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Take-up, which excludes renewals and renegotiations, accounted for 79% of the total leasing activity (TLA).
Bucharest led the way with 46% of the TLA, followed by the South at 27%, the West/North-West with 19%, and the East/North-East and Central regions at 5% and 3%, respectively. Although the number of transactions signed in the last three months was lower compared to previous quarters, the average leasing transaction size increased to 7,500 square meters, indicating a growing interest in securing larger premises.
Production purposes accounted for 38% of the total leased area nationwide, driven partly by increased demand from Chinese production initiatives in Europe. The ongoing infrastructure developments and maritime access are also attracting e-commerce players looking to establish new distribution hubs.
In the first nine months of the year, a total of 624,000 sq m were transacted across the country, which is 10% less than the same period in 2023. However, the outlook for 2024 remains optimistic, with expectations similar to or exceeding the levels seen in 2020-2021.