Transactions of new office rental, relocation and pre-rental in Romania’s regional cities reached 70,393 sqm during 2022, which was 22% more than in 2021. Almost 90% of the lease deals were closed in cities that are university centres such as Iași, Cluj-Napoca and Timișoara, according to a report by Fortim Trusted Advisors.
Transactions of new office rental, relocation and pre-rental in Romania’s regional cities reached 70,393 sqm during 2022, which was 22% more than in 2021. Almost 90% of the lease deals were closed in cities that are university centres such as Iași, Cluj-Napoca and Timișoara.
Iași was the city that attracted the newest tenants in 2022, after Bucharest. In total, large companies have rented and pre-rented office space with a total of 26,378 sqm, which represents 37% of the total rentals outside Bucharest, according to a report by Fortim Trusted Advisors. Large leasing deals were also closed in Timișoara and Cluj-Napoca.
„In 2022, the ratio between the rental market in Bucharest and the other cities was 3/1, but we expect this ratio to decrease over time. First, the demand from the IT&C companies, which dominate the market, continuously pursues a territorial expansion, in search of the workforce in the university centres. And secondly, the supply of new modern spaces in the other cities is increasing,” said Bogdan Cange, Managing Partner- Business Development, at Fortim Trusted Advisors. He added that during 2023-2024, in the five cities in the top – Iași, Cluj-Napoca, Brașov, Timișoara and Craiova, there are modern office buildings in pipeline, which benefit from building permits with a total area of about 200,000 sqm, as expected to be delivered in Bucharest.
In Bucharest, total office leasing activity stood at 214,911 sqm during 2022.
