With the real estate crisis behind them, companies, especially Telecom and IT giants, have begun investing in new headquarters, both to create space for new employees and to relocate current employees to modern office buildings.
According to figures provided by a real estate consultancy firm, the demand for office space rose by 38% in 2014 compared to the previous year, reaching the highest level in the last six years. In Bucharest, rents for Class A spaces vary between 16 and 18.5 euro/sqm/month, while in non-central locations, they range between 9-12 euro/sqm/month.
The total stock of modern office space in Bucharest was 2.16 million square meters last year, according to a specialized study by a real estate consultancy firm.
Source: Imobiliare.Net
Frequently Asked Questions
What industries are driving the Bucharest office market?
The Telecom and IT sectors are the primary drivers, investing in new headquarters for expansion and relocation.
How much did the demand for office space increase?
In 2014, demand for office space in Bucharest increased by 38% compared to the previous year.
What are the average rental rates for Class A offices in Bucharest?
Class A office rents in Bucharest range from 16 to 18.5 euro per square meter per month.