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The number of metro trips was almost double as of mid-May compared to April, standing at 3.4 million, and road traffic in Bucharest was also up by 50 percent, which shows the resumption of activity in the capital city's large office buildings, shows a survey released on Thursday by Crosspoint Real Estate.
"April's metro ridership was of 1.8 million trips, and in the first 15 days of May, as the state of emergency has come to end, the number of trips increased to 3.4 million. Moreover, in May we can also see a higher travel density between 6:00 - 9:00 a.m. and 16:00 - 19:00 p.m., which may indicate the return to office in various areas of Bucharest," says Ilinca Timofte, Crosspoint Real Estate Research Analyst.
According to data centralised on the dedicated road traffic platform www.tomtom.com and analyzed in the cited survey, traffic on the busiest thoroughfares of Bucharest has already reached 50 percent of the level before the introduction of the state of emergency.
These traffic values have prompted the authors of the survey to conclude that "between 30 and 35 percent of the companies have partially or fully resumed activity in the office buildings they occupy," says Ilinca Timofte.
The health crisis and the state of emergency had reduced the metro traffic by half this March compared to previous months, from more than 14 million rides in January and February to less than 8 million rides in March, according to Metrorex figures used in the survey.
Passenger numbers in the metro stations that service the main office areas in Bucharest (Preciziei, Grozavesti, Politehnica - west/center west, Victoriei Square 1 & 2 - CBD, Pipera, Aurel Vlaicu-Pipera, Floreasca/Barbu-Vacarescu) reveal a significant decrease in the number of trips to and from the main office hubs in May compared to the first two months of the year, but also a slight comeback compared to April.
The Aurel Vlaicu and Pipera metro stations are usually some of the busiest because these areas accommodate office buildings with over 125,000 employees, but during the state of emergency the trips to these stations have fallen to an all-around low in April and May, while the busiest stations were Preciziei (the only station to service a significant office stock), Pacii and Gorjului.
The survey concludes that the number of trips was by 76 percent less in May compared to January 2020, but by 72 percent higher compared to the previous month, after only two weeks of relaxation.
"Although a significant number of companies have postponed their return to office until at least September and work from home still seems to be preferred in the current situation by both employers and employees, the fact that the recently installed relaxation has led to a rapid increase in activity in the main office areas may indicate that at least half of the employees who work in these areas will return to office by the end of this summer," says Simona Urse, Associate Director - Office Agency Crossppoint Real Estate.
"At the same time, the improvement of the ventilation systems, the disinfection of the HVAC equipment, as well as the reduction of office density are important factors that will increase productivity. Thus, the medium and long term demand for quality office space will stay constant, because office space remains an important component of everyday life, and this will not change fundamentally," concludes Simona Urse.
Founded in 2005, Crosspoint Real Estate Romania is a real estate consulting firm that offers premium services in the field of transactions, office and retail space rental for developers or tenants, assessment services, market research and feasibility studies, as well as services in the field of residential properties through exclusive mandate. It is internationally associated with Savills, one of the world's largest provider of real estate services, with revenues of over Ł1.9 billion in 2019.
