European Hotels Update H1 2024
Throughout 2014 the office market outside Bucharest has thrived, recording high levels both in terms of leasing and development activity. The main regional cities in Romania – Cluj, Timisoara, Iasi & Brasov – started to become a viable option for companies looking to enter the local market or to enlarge existing operations beginning 2008 – 2009. Compared with Bucharest, this cities were offering more competitive costs in terms of workforce and office space occupancy. Due to their strategic location, student population, qualified labor force and IT infrastructure, Cluj, Timisoara, Iasi and Brasov have become, in recent years, the largest office markets outside Bucharest.
