RSS
Real estate: Office rental volume reaches 57,000 sq.m in Romania, in quarter 3
The office rental market in Romania cumulated 56,730 sq.m. in quarter 3 getting close to the same period of 2019, according to an analysis made by a real estate consulting company.According to analysts , the 56,730 sq.m existing in the office rental market represents about 88% of the total recorded in the third quarter of 2019.
“For more than half of these areas, tenants prefer to remain in the same office buildings after signing extension contracts. In fact, more contracts have been renegociated for this segment as compared to the previous quarter or the same period of 2019. In quarter 3, 2020, rental contracts were extended for office areas that cover an area 77% more than in the same period of last year. In quarter 2, 2020, which included the lockdown period caused by the beginning of Covid 19 pandemic, the negotiation segment had dropped to 24% against the same period of 2019, similar to the entire market,” the ESOP Consulting press release mentions.
Rentals of new areas and pre-rentals of new areas cumulated 23,268 sq.m in quarter 3, 2020, which represents about 60% of the areas recorded in the same period of 2019.
ESOP is one of the reference companies in the real estate market in Romania, an affiliated member of CORFAC International – Corporate Facility Advisors, an alliance of real estate companies since 2013.