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Articles - office request

The office market was the least affected by the crises

The office market was the least hit by the crises in the entire real estate sector in Romania, registering last year record level considering the transactions (approx. 300,000 sq. m, with 22 pct growth compared to 2012) and the new deliveries (120,000 sq. m, with 2.5 times growth).

Bucharest offices – best quarter in the last 21 months

The office request (except for renegotiations and extensions) reached 48,500 q. m in the first 3 months of the year, with more than 55% prelease transactions.

Office development possibilities in Zagreb and Belgrade

Zagreb and Belgrade are generally viewed as offering office development possibilities despite being at different points in the development cycle. Belgrade has close to zero vacancy with limited stock while Zagreb has high vacancy and an “overheated” office market. Development opportunities are anticipated with an economic upturn in the Croatian economy in the next 2-3 years.

Office market 1st quarter: the demand is up by 13% in Bucharest and 50% in the rest of the country

The office area transacted in the first quarter of this year has increased both in Bucharest and in smaller cities in the country, such as Timisoara and Cluj-Napoca, mainly due to the development of the IT&C companies, which continue to recruit thousands of employees and to occupy new floors in business centres.

Office preleases up to 30% of the market in first quarter

The office prelease transaction volume in Bucharest has spectacularly increased in the first quarter compared to the similar period of 2013, representing over 30% of the rented area in the analyzed period, an evolution which shows a recovery of the interest in the local market, Mediafax writes.

Office developers active across CEE

Developers have been very active in the Warsaw and Prague office markets in recent years. However, these leading CEE markets are victims of their own success as concerns over vacancy rates are causing developers to re-consider the Budapest and Bucharest office markets.

Esop: A and B Class Office Rents in Western Bucharest Closer to Downtown Rents

The differentiated office spaces volume, more consistent in the Central-Northern Bucharest and more limited in Centre-Western Bucharest, has generated in the beginning of this year a significant proximity of the rents in the two zones, which became comparable, according to Esop Consulting.

Esop: 76% of small and medium companies are looking for offices under EUR 11/sq. m

76% of small and medium companies are looking for offices under EUR 11/sq. m, while 20% have budgets of EUR 11.1-15/sq. m and only 4% have budgets exceeding EUR 15/sq. m /month, shows data in 2013 of Esop Consulting.

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