Total transactions registered in Bucharest shows a positive trend for the first nine months. In the first three quarters of 2013, Bucharest registered a total volume of 208,919 sq. m (including the renegotiations/renewals and the relocations), according to the data centralized by the Forum of the most important real estate consultancy companies present in Romania, which represents a growth of approx. 25% compared to the same period of 2012.
The third quarter of 2013 observed an accelerated dynamics of some strategic transactions, carefully monitored by the consultants and the real estate developers: the expansion transactions of the existing companies on the market and the new entries.
Generally called by the real estate consultants „New Demand” transactions, those have registered in 3Q a total of 19,599 sq. m, with 39% more than the total of the first two quarters.
This type of transactions are important for the players on the real estate markets as they indicate the companies development pace and implicitly the one of the office market, being an indicator taken into consideration for planning new office building development.
A healthy office market is the one where there is a constant and progressive growth of the rented office stock by new companies entered on the market or by companies in expansion.
„If we had in the first quarter of 2013 a total volume of 7,963 sq. m of New Demand transactions and in the second quarter a volume of 6,136 sq. m, in the third quarter a spectacular growth was registered up to 19,599 sq. m, more than the double compared to the first quarter and three times more than the second quarter. This is a good sign, as the New Demand transactions reduce the vacant office stock on the market and reflects a positive occurrence, of increase of the companies confidence in own development perspectives or in the local market”, said Alexandru Petrescu, managing partner of Esop Consulting l CORFAC International.
“The growth of New Demand transactions included both large areas transactions as well as average areas and a diversification of their types was registered, with multinationals resuming their expansion plans, local start-ups, international companies opening for the first time an office in Romania”, Petrescu added.
Compared the same period of last year, the third quarter of 2013 is also better on this transactions segment, with 49% New Demand transactions increase compared to 3Q 2012. (source: dailybusiness.ro)
