Companies in Bucharest spend, on average, EUR 943 for the arrangement of a sqm of work space

17 April 2024

Bucharest ticks among the lowest costs in Central and Eastern Europe when it comes to setting up office spaces. Although they continued to grow by 15-20 percent in the last year, the average of EUR 943 /sqm is 32 percent below the level recorded in Warsaw or Prague, and 25 percent above that of Sofia, the cheapest capital in the region , shows the data of the real estate consulting company Cushman & Wakefield Echinox.

“The biggest impact on the costs of setting up office spaces was the labor cost – given that last year in Romania we are talking about an increase in the average net salary by over 15percent – and the costs of materials and equipment necessary. An important element is also the expenses necessary for the implementation of ESG standards, a concern that is increasingly common on the part of tenants,” explains Andrei Ianculescu, head of project management Cushman & Wakefield Echinox.

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