Analysis: Close to 90 pct of Bucharest office spaces are for rent

Close to 90 percent of Bucharest office spaces are for rent, according to the analysis of Wizmo.ro, the real estate platform for residential and business sectors, and RE/MAX Grup de Lux, one of the franchises RE/MAX Romania. The situation is similar in Cluj, where only 30 percent of the properties are for sale.

„Currently, on Wizmo.ro are published over 40,000 properties and 1,050 out of these are offices. Regarding their destinations, in Bucharest and Cluj, 88 percent respectively 70 percent are for rent and only 12 percent respectively 30 percent are for sale,” said Maarten Deboo, CEO Wizmo.ro (photo).

According to the data from Wizmo.ro platform, the average rent price of the office spaces is EUR 9.62/sqm in Bucharest, EUR 9.53/sqm in Cluj, EUR 7.54/sqm in Iasi, the prices differ according to facilities, location, services offered and the most important aspect, the offices class that it is part of.

There are also maintenance costs affiliated to the rents of the spaces from the business centers. For the offices in Cluj-Napoca, the costs range between EUR 1 and 3/sqm of rented spaces. All the expenses refer to the common spaces of the floor (lifts, the spaces in front of the lift, technical spaces), as well as the common spaces of the building. Generally the administrative costs are periodically updated.

“Taking into account that the final objective is the identification of the space that offers a certain number of jobs, the most important aspect is not the rent/sqm, but the rent per workplace. This index is calculated as a ratio between the total rent and the number of jobs,” said Alina Berghian, sales associate RE/MAX Grup de Lux.