The total office stock in Cluj-Napoca, Iasi, Timisoara and Brasov is 450,000 sqm, five times lower than Bucharest’s supply, according to DTZ Echinox. Cluj-Napoca has 150,000 sqm of mostly class B office space, followed by Iasi, with 120,000 sqm. Timisoara has 100,000 sqm of offices, while there is only 80,000 sqm in Brasov, according to DTZ, which conducted a recent study of regional city office markets in Romania. Rents for class A office space in all four cities average between €12 and €14/sqm/year, while rents for class B office space range between €7 and €11/sqm/year.
