Office market

The general situation of office space segment improved significantly compared to 2013 is obvious increases in development and leasing activity, the downward trend in vacancy rates and capitalization rates. Increasing the share of pre-leasing is a positive signal to developers and investors, showing confidence that different players have towards the local economy and local market prospects. Continuing estate development projects is proof positive expectations regarding the future evolution of market indicators.
Relocation transactions are dominant in the market, tenants trying to improve their housing situation both in terms of quality and occupancy costs. However, the structure of leasing transactions is no longer almost exclusively dominated by relocations, the share of other types of rentals (new application expansions) becomes higher than previous years.
Continued growth in the forecast creates the premises increasing number of companies new entrants in the market, there is interest from companies in this regard. In 2014, the majority of tenants opted for maintaining or expanding the occupied areas, contrasting sharply with the previous year in the areas occupied by tenants recorded decreases evident.

The main proponents of demand in 2014 were companies in the telecommunications, IT, services and industry.
The vacancy rate has hovered at around 14%, but the trend is downward, it relates to the vacancy rate recorded at the end of 2013, leveling off just below 14%. Areas of Bucharest recorded vacancy rates uneven in central areas with low levels (below 10%) and with areas exceeding 20% ​​in the northernmost area Pipera.