ARTICLES LABELLED WITH TAG Fortim Trusted Advisors

Demand for new offices in Bucharest rose by 13% in 2022 compared to the previous year, with 332,922 sqm of spaces leased in the city during the past year, according to real estate consultancy Fortim Trusted Advisors. 

America House has become the first-Class A office building in Bucharest to obtain an Outstanding rating according to the BREEAM In-Use certification methodology, after a major investment of €10 million. The certification process was managed by BuildGreen. 

Office leasing across the country totaled 108,747 sqm in Q3, up 9% compared to the same period of last year, with Bucharest, Iași and Cluj-Napoca recording the biggest volume of transactions, according to real estate consultancy Fortim Trusted Advisors. 

The total stock of retail park spaces in Romania will exceed the supply of commercial spaces located in shopping malls if the current investment activity continues, according to a report by real estate consultancy Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance. 

Costin Nistor, Managing Director of Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance, detailed for Property Forum the real estate consultancy’s development plans for this year, also talking about the segments that will propel the investment market to over €1 billion in 2022.

Investments in Romania’s commercial real estate market amounted to €566.9 million in the first half of this year, compared to €194 million in the same period of last year, according to a report by real estate consultancy FortimTrusted Advisors, an alliance member of BNP Paribas Real Estate. 

The office market in Cluj-Napoca is the second largest in Romania following the one in Bucharest and there are eight office buildings with a total leasable area of 130,000 sqm under development that will be completed by 2025, according to real estate consultancy Fortim Trusted Advisors, part of BNP Paribas Real Estate Alliance. 

Companies in the IT&C sector had a share of 32% in Bucharest’s office lease market in Q1 and generated 93.6% of new leasing transactions in regional cities such as Cluj-Napoca, Iași, Timișoara and Sibiu.

Class A offices in Bucharest have some of the cheapest rents compared to other large European cities with strong business centres, according to a report by BNP Paribas Real Estate Alliance members. 

Property investments in Romania totaled €919.4 million during 2021, with Austrian investment dominating the rank among foreign players closing deals on the local market. Last year, Austrian investors bought office and retail spaces with a combined value of €323 million. Czech and Hungarian property players had shares of €173 million and €150 million, respectively, according to a report by real estate consultancy Fortim, a member of BNP Paribas Real Estate Alliance.