Romania among most cost-effective markets for office fit-outs

28
Oct
2024
News - Romania among most cost-effective markets for office fit-outs #CEE #iO Partners #Marius Mureșan #office #Romania

by Property Forum | Office

Romania remains one of the most affordable countries in the EU for office fit-outs, with costs significantly lower than in Poland, the Czech Republic, or Western countries, according to research by iO Partners. 


The average cost of fitting out office spaces in Romania ranges between €850 and €950 per sqm, including furniture. However, this can reach €650 to €1,500 per sqm for a full project. On average costs for office space fit-outs in Romania rose by 10-15% year-on-year. 

At the same time, clients’ demands are becoming more sophisticated and technology-driven—a trend likely to continue in the long term. 

“To meet rising costs and advanced design requirements, companies need personalized consultancy and expertise in achieving work, organizational, and ESG goals. That is why, at iO Partners, we have developed a holistic and cost-optimization approach that covers all project lifecycle stages—from understanding clients’ sustainability and financial goals to building selection, detailed design, and execution,” says Marius Mureșan, Head of Project and Development Services at iO Partners. 

Despite economic uncertainty and a labor shortage that will persist, the iO Partners analysis predicts inflation stabilization and a potential slight price decrease in the near future. However, cost pressure will remain over new legislative requirements and the bureaucracy associated with ESG compliance. 




Latest news


New leases

  • Banca Transilvania has renewed its lease for 1,200 sqm in AFI Park Timișoara, in a deal brokered by Cushman & Wakefield Echinox.
  • Revetas Capital has secured four lease transactions totalling 5,700 sqm of gross leasable area at the Bonarka for Business (B4B) office park in Kraków. The transactions include a new lease agreement with telematics firm Geotab, alongside three lease renewals. Geotab has taken up office space in Building E of the complex. Concurrently, KION renewed its commitment to 4,000 sqm of office space within the same building. The remaining two lease renewals were finalized for spaces in Buildings F and D. Cushman & Wakefield represented Geotab, and JLL advised KION on the deals.
  • Sirowa Poland has relocated its office in the revitalised mixed-use Centrum Praskie Koneser complex. The international distributor of cosmetic and pharmaceutical brands leased 958 sqm in Building P at the development, in a deal brokered by Savills.

New appointments

  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.
  • BNP Paribas Real Estate Poland has expanded its Industrial and Logistics Agency team with the appointments of Joanna Choromańska, formerly of JLL, and Bartosz Wilczyński, previously with CBRE. The new hires bring a combined 34 years of experience in sector sales, lease negotiations, and build-to-suit project delivery to support the division's ongoing growth.
  • Speedwell has expanded its industrial and logistics team with the appointment of Valentin Achim as Leasing and Property Manager for Industrial Developments. Achim brings extensive experience in coordinating commercial and operational activities within the logistics and industrial sectors. In his new role, he will oversee the development and expansion of the company's Spaceplus platform.


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