The office market in Cluj-Napoca is expected to record a sharp decrease of deliveries this year and only 5,000 sqm of spaces are under development this year and will be finalized by 2023, according to property consultancy SVN Romania.
Around 3,200 sqm of modern office space was delivered this year in Cluj – Napoca compared to 20,500 sqm in 2020. On this backdrop, the vacancy rate on the A Class segment dropped to less than 2%, compared to 5% last year and 6.3% in 2019.
Cristian Simon, Head of Commercial Office SVN Romania | Cluj, says that at present it is hard for a company to find 1,000 sqm of office space for lease in Cluj-Napoca.
“The absence of a satisfactory short – term offer can cause new entrants in Romania to choose other cities, as competition between regional centres is fierce. At the same time, the total take-up decreased significantly in 2021, with no large-scale deals signed this year,” said Simon.
SVN Romania data shows that Cluj-Napoca has a class A office stock of 298,000 sqm.
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