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Real Estate: Office renting grew by 5.57% in Bucharest and over 60% in the big cities of the country
The offices surfaces traded last year in Bucharest and the main cities of the country was almost 346,000 square metres with 9.9% higher than in 2013 with an advance of only 5.57% in the capital city and 61% outside,according to the data sent by the Esop Consulting company.
In Bucharest, the volume of tradings including the relocation,pre-renting,expansions and
Outside Bucharest- Cluj,Timisoara.Sibiu – were traded 37,377 square metres against 23,218 square metres.
As a whole, the recorded tradings both in Bucharest and in the main cities of the country were in 2014 at a total level of 345,730 square metres. ‘ In 2014 there was a coming back of tradings of pre-renting,possible coming back in the context of the increaseof the number of projects launched on the market over the last 12-18 months with delivery between 2014 – 2015. At the same time,they contributed to this evolution the positive trend of the Romanian economy, the increase of trust in the climate in Romania,as well as the real need of the companies to start again the expansion of their businesses, the approach of new markets and the implementation of new ideas and technologies’ stated for Mediafax Alexandru Petrescu, managing partner Esop Consulting.
In Bucharest, pre-renting (renting in buildings under construction) is 73,274 square metres (almost 24% of the total) growing three times from 24,430square metres in 2013. And the contracts which aimed at the expansion of the already occupied surface by companies grew in volume from17,950 square metres to 29,080 square metres.(almost 10%).
The biggest part of the contracts was made by the spaces in existing buildings – 133,197 (almost 45% of the total), dropping from 136,847 square metres in 2013.Renegotiations and renewals of contracts diminished significantly by 35% up to 72,800 square metres (24% of the total).
In his opinion, the main engine for the increase of office surfaces traded in the big cities is the competition for work force.This puts pressure on the level of salary and limits the perspectives for development in Bucharest.
Last year in Bucharest were delivered almost 120,000 square metres of rentable surfaces for
offices,similar to the one recorded in 2013. For this year, the Globalworth managed by the businessman Ioannis Papalekas wants to finalise the Bucharest One building,next to the Aurel Vlaicu metro station with 48,000 square metres and AFI Europe has programmed the delivery of 30,000 square metres in the AFI Business Park IV&V.