The office space demand in Romania totalled, in Q1 this year, around 140,000 square metres, one third of that sum representing spaces leased outside of Bucharest, in cities such as Iasi, Timisoara, Cluj-Napoca and Brasov, according to an analysis authored by a real-estate consultancy company.
In the country’s large cities, the office space surface traded in the first three months of the year totalled around 41,000 square metres, compared to 18,800 sq.m. in the same period last year. According to the JLL Romania analysis, at national level the demand almost doubled in Bucharest and the main cities in the first three months of 2016, up from around 76,000 sq.m. last year.
This year, Iasi is competing with Bucharest, registering one of the top two largest transactions in Q1, namely 13,000 sq.m. In Bucharest, the largest transaction totalled 13,000 sq.m., but was the extension of an already existing contract.
Ordered by cities, the data shows that in Bucharest the demand totalled almost 100,000 sq.m. in Q1, two-times higher than the surface area leased out in the same period last year. 17,200 sq.m. were traded in Iasi, 16,300 sq.m. in Timisoara. Timisoara was followed by Brasov and Cluj-Napoca.
Companies from the BPO, IT&C and professional services domains continue to be the engine of demand in Romania this year too, with over 60 percent of the surface area traded in Q1, while the banking and financial services sector leased 10,000 sq.m. and FMCG companies signed contracts for 3,000 sq.m.