13 C
April 16, 2021

Office space transactions up by 46pct in first 9 months of 2015

Transactions with office spaces in major cities in the country, excluding the capital, stood at 37,417 square meters in the first nine months of 2015, up by 46pct year-on-year (with 25,475 sqm were rented), and almost equal to the overall surface rented in 2014 (37,377 sqm), a real estate survey sent on Wednesday.
Excluding Bucharest, in the first three quarters of 2015, the largest office space markets are found in Iasi (14,603 sqm), Timisoara (11,658 sqm) and Cluj-Napoca (4,200 sqm), the survey by ESOP Consulting I CORFAC International reveals.
The standing changes periodically in top three, closely determined by the yearly supply of new office spaces in major cities. Last year, during the same period, Cluj-Napoca was ranked first, with a total of 14,990 sqm traded, while in Iasi only 4,100 sqm were traded.
‘Following the fast development of the office space market in Bucharest in the past years, we estimate an accelerated growth of the main three university cities in the country: Iasi, Timisoara and Cluj-Napoca, because the demand for highly-skilled work force is on the rise and the Bucharest labour market has become competitive enough so that IT&C, BPO, Share Services and companies developing research and development centres are seeking solutions to sustain the optimal results obtained so far in Romania and the appetite for growth of the presence in our country,’ Alexandru Petrescu, representative of the real estate consulting company stated.
The number of students in a city is an important marker for the office space market in the upcoming years. The demand for highly-skilled work force at entry-level, namely immediately after graduation, triggered a harsh competition between major outsourcing, BPO and IT&C companies and research and development centres for attracting students, real estate consultants argue.

Related posts

Enel Romania appoints Radu Cosarca as Foreign Relations Manager


Romania has one of the biggest oil pipes in the EU

Nine O' Clock

Heineken Romania posts 7 pc bigger turnover for H1