The stock of industrial and logistics spaces in Bucharest has doubled between 2015 and 2020, the capital of Romania being the most dynamic market in the Central and Eastern European region and a logistic regional hub throughout the analyzed period, according to the real estate consulting company Cushman & Wakefield Echinox.
At the beginning of 2019, the stock of logistic spaces surrounding the Capital has exceeded the 2 million square meters threshold, getting close to Budapest level of 2.3 million square meters which incresed with approximately 23% over the last five years.
The area of modern logistics spaces in Bucharest is above the level of Bratislava (1.3 million square meters), but still remains below the level of Prague (3.2 million square meters) and Warsaw (4.3 million square meters), these being the most developed logistics markets in the region.
The logistics spaces stock evolution in the capitals of Central and Eastern Europe in the last five years
|City||Logistic spaces stock 2015 (thousand sq.m)||Logistic spaces stock T1 2020 (sq.m)||Evolution|
Given that developers are building new spaces with a leasable area of over 150,000 square meters, Bucharest logistics market will continue to grow during this year, in order to meet the demand from online retailers and FMCG, two areas which have been less affected by the restrictive measures taken by authorities to limit the spread of the Covid-19 virus.
At a national level, the logistics and industrial markets reaches over 4 million square meters, with important industrial development poles in Timişoara, Cluj or Ploieşti, cities that are well positioned to attract new investment, as the tendency is to shorten supply chains and encourage local production for certain categories of products considered essential or strategic.