Office Market Overview: Regional Cities 2014 - Office Market Overview

Research title:

Regional Cities 2014 - Office Market Overview

Publication name / Category:

Office Market Overview

Date Added:

Mar 06, 2014

Research Summary:
  • The modern office stock in the main four regional cities in Romania is of 450,000 sq m, representing 20% of Bucharest's office stock.
  • In terms of new office supply, currently there are 52,000 sq m under construction, planned to be delivered by the end of 2014.
  • Currently, the vacancy rate for Class A office buildings is below 10% in Cluj, Timisoara and Iasi, while in Brasov is slightly higher, up around 15%.
  • Demand for office space comes especially from Financial, Technology&Telecom and Service sectors.
  • Due to competitive salaries, a large educated labor pool, good infrastructure and operational costs, the analyzed regional cities have become attractive for companies looking to open BPO, R&D and SSC opperations.
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