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

  • Yokogawa Romania has extended its lease agreement for another five years in Building F of YUNITY Park, a business campus owned by Genesis Property. The agreement marks the fourth consecutive renewal for the local subsidiary of the Japanese industrial automation and process control company. Originally signed in 2007, this latest extension brings the total duration of the corporate partnership to more than 20 years.
  • Vastint Romania has secured a new lease agreement with Arcadis Romania for 1,183 sqm of office space in Building A of the Business Garden Bucharest development.
  • Karimpol Polska has signed a major lease agreement with Volkswagen Financial Services at the Skyliner II complex at Rondo Daszyńskiego in Warsaw. The automotive financial services provider will occupy nearly 6,000 sqm of office and retail space in the project's second tower. Following the transaction, the occupancy rate of Skyliner II has reached 50%.

New appointments

  • 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.
  • Colliers has appointed Kata Mazsaroff, Tamás Beck, and Miklós Ecsődi as Equity Partners in Hungary, effective 30 April 2026. Mazsaroff, who joined in 2007, rises to Managing Partner after overseeing a 200 per cent revenue increase since her 2022 appointment as Managing Director. Beck, with Colliers since 1994, has led the Industrial & Logistics division since 2005, facilitating transactions covering 1.9 million sqm of built space and 9.8 million sqm of land. Ecsődi, Head of Occupier Services and Office Agency since joining in 2011, has secured over 450,000 sqm in leases valued above €600 million.
  • Aleksandra Walaszek and Tomasz Nowakowski have joined Cushman & Wakefield’s Retail Agency. Walaszek has more than 10 years of experience in the retail sector. Nowakowski is an expert with nearly 20 years of experience in strategic leasing and retail property transaction management.


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