The local office market outside Bucharest saw a third consecutive year of growth in 2014, according to data from real estate services firm Esop. Some 37,000 sqm of office space were leased last year outside the capital, a volume which was up by 60 percent y-o-y and seven times more than in 2012, said company representatives, according to Business-Review.eu.Cluj-Napoca, Timisoara and Iasi were the most attractive alternatives to Bucharest, these also being the cities with the largest stocks of office space outside the capital. Tenants are also starting to look at cities like Craiova, Targoviste and Targu-Mures.
“Esop brokered the transaction of some 4,000 sqm office space which represented about 10 percent of the volume which was leased in 2014,” said Alexandru Petrescu, managing partner ESOP Consulting l CORFAC International.
City Total leasing activity (sqm)
Bucharest 306,273
Cluj-Napoca 21,090
Timisoara 11,452
Iasi 4,100
Ploiesti 735
