Office Market Overview: Romania Office Market Regional Cities 2016

 
 
Research title:

Romania Office Market Regional Cities 2016

Publication name / Category:

Office Market Overview

Date Added:

Jul 25, 2016

Research Summary:
  • At the end of 2015, class A & B office space in Cluj Napoca, Timisoara, Iasi and Brasov reached 584,000 sq. m.
  • New supply was two times higher y-o-y, exceeding 90,000 sq. m.
  • In 2015, net take-up was of 60,000 sq. m and was divided between new demand (80%) and relocations within A & B stock.
  • In the first half of 2016, the level of new supply in the main regional cities was of 47,500 sq. m, leading to a total modern stock of ~632,000 sq. m.
  • Given the strong level of transactional activity, office demand outside Bucharest is projected to reach in 2016 the highest figure ever recorded.
  • Analyzing the pipeline for H2 2016 – 2017, 165,000 sq. m are scheduled for completion, with Cluj Napoca and Timisoara accounting for 80%.
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