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Real Estate: Office space transactions of average companies grew by 15% in Q1
The volume of office space transactions of average size companies grew by 15% in quarter 1 of 2016, compared to the same period of 2015, according to a study made by a real estate consulting company. The centre-northern area was chosen by 37% of average size company managers that moved to new headquarters, almost the same as the centre western and very centre area taken together (which recorded 19% each), according to a study made by ESOP Consulting. 63% of average company managers chose business centre buildings and 37% chose villas for commercial purposes, according to data analysed.
“The centre-northern area leads in the tenants’ preferences in this period of time because of the fact that the offer of new office areas is higher and average company managers have more options. In the second part of 2016 and in 2017 more new buildings at high quality standards will be commissioned in the other two areas as well (centre-western and very central areas). The bigger offer will generate more transactions in these areas and implicitly, a market balance among the three poles of interest for average companies”, says Alexandru Petrescu, managing partner ESOP Consulting/Corfac International.
The average area of an office transaction in this market section went up from 268 square meters in 2015 to 394 sq.m in the first quarter, 2016. Office areas rented by average companies had areas between 85 sq.m and 1,000 sq.m.