The average office fit-out costs in Romania rose by around 20-30% in 2022 due to a combination of supply chain pressures and higher materials’ costs, which saw companies paying an average of €820 per sqm of office space, according to real estate consultancy Cushman & Wakefield Echinox.
The budgets can range from €600 to over €1,200 per sqm depending on the project complexity, the materials and the solutions used, but also on the technical and security systems which have been implemented. The costs related to fit-out works, architecture and installations (50%) and those pertaining to furniture (30%) have the largest shares in the total cost, while also being the most impacted ones by the price increases.
Ana Stroie, Business Development Manager - Project Management Department Cushman & Wakefield Echinox, says she has noticed an increasing demand for project management services due to the unpredictability of fit-out costs.
Nonetheless, fit-out costs in Romania remain among the lowest in the Central and Eastern Europe, and the outlook is positive. Companies are looking to upgrade their office spaces in a bid to accommodate the flexible work models, with a greater focus on collaborative and green spaces.
