Horatiu Florescu: demand on the Bucharest office market reached the highest level since 2009
2013 saw an increased demand on the Bucharest office leasing market, which amounted to almost 300,000 sq m (class A, B and C), almost 40% more than the previous year. Over 90% of this total was represented solely by modern, class A and B office buildings. 42% of the 2013 modern office leasing activity was represented by new occupation deals, 38% by renegotiations, 11% were expansions, whilst pre-leases accounted to 9%. As compared to the previous year, new occupation transactions also saw an increase of c. 35%, proving a positive trend overall. Also noteworthy is the average size of lease agreements signed for modern office space in Bucharest, in 2013, of c. 1,700 sq m. The forecasted demand of 2014 is expected to reach a similar level as 2013, from which The Advisers/Knight Frank plan on maintaining their leading market share in the range of 30%, alike the previous years.
The full interview can be found on our web site:
http://www.cijjournal.com/qa-horatiu-floreascu-president-ceo-advisersknight-frank/
