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Office Market News

Owners want to sell Stirbey Palace near Bucharest for EUR 20 mln

The Stirbey Palace and the 24-ha surrounding park, located in Buftea, in northern Bucharest, have been put up for sale. The selling price is EUR 20 million, according to market sources cited by local Profit.ro.

A start-up in Romania needs 12,500 dollars, more than in Poland, Bulgaria or Hungary

In Romania, an entrepreneur needs an average of nearly 12,500 dollars in order to start a business, more than in Poland, Sweden, Bulgaria, Croatia or Hungary, but less than in Germany, Italy or Norway, shows the Global Entrepreneurship Monitor (GEM), which considered 60 countries for the report.

Fondul Proprietatea’s Konieczny: Romania, the most attractive border market in Eastern Europe

Romania is the most attractive border market in Eastern Europe, because it offers assessment “bargains”, high-yield shares and good perspectives for IPOs of state-owned, but also private companies, Greg Konieczny, manager of Fondul Proprietatea investment fund, said.

Average companies rented with 14 pct more offices compared to last year

In H1 2016, the segment of office transaction with areas up to 1,000 sq. m was relatively constant, while the segment of offices for average companies, with areas between 1,000 and 3,000 sqm has increased with 14 pct.

Adrian Karczewicz, Skanska: Office spaces yield in Bucharest reaches 7.5 pct.

Commercial real estate markets in Romania and Hungary register new capital flux, following an important yield difference between Western and Eastern Europe, where the office spaces yield is, for example in Bucharest, at 7.5 pct.

Insolvencies down by 22.54 pct in the first seven months of 2016 in Romania

Some 5,058 companies have become insolvent in the first seven months of 2016, dropping by 22.54pct against the same period of 2015, a release by the National Trade Register Office (ONRC) informs.

There is room for one more large-scale mall in Bucharest, says Colliers International

With the opening of the 70,000 sqm ParkLake mall this Thursday and that of another shopping center, Veranda Mall (30,000 sqm) later this autumn, Bucharest will see its modern retail space stock increase to 1.16 million sqm, according to data from commercial real estate services firm Colliers International. This leaves room for one more large-scale shopping center in the capital, say company representatives.

Vastint Romania: Our team will be among the first tenants of Timpuri Noi Square project

Vastint Romania, the real estate division of Inter IKEA group estimates it will complete in 2017 the works for the first two office buildings in Bucharest’s Timpuri Noi district.

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