ROMANIA OFFICE REGIONAL CITIES 2016

Throughout 2015 gross take-up in the main regional cities amounted ~70,000 sq. m, being higher by 25% when compared with 2014. Net take-up represented 90%, with approximately 60,000 sq. m transacted and was divided between new demand (80%) and relocations within A & B stock. Pre-lease activity improved significantly. Compared with 2014, the office area subject of pre-lease transactions in 2015 was three times higher and amounted 25,500 sq. m. Also, the largest deal concluded outside Bucharest last year was a pre-lease transaction.

Compared with the previous year, in 2015 demand for office space outside Bucharest was more fairly divided between markets. From the total office area transacted, Iasi accounted 35%. It was followed by Cluj Napoca – 23%, Timisoara – 22% and Brasov with 20%. Technology & Telecommunication companies continued to be the best performing office occupiers, with 75% of gross take-up, followed by Financial companies, with 10% and Manufacturing / Industrial with 8%.