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Bucharest Office Space Rents To Hike By 20- 25% In ’08 – DTZ

Rents for office spaces in Romania's capital city Bucharest will climb by 20-25% in 2008, as supply will maintain below demand, therefore, companies started to buy office spaces, rather than rent them, to reduce costs, according to estimations by real estate company DTZ Echinox.
Bucharest Office Space Rents To Hike By 20- 25% In ’08 – DTZ
14 apr. 2008, 14:23, English
"Since the supply is still low, compared to the ever rising office space demand, the rent levels climbed by at least 20% in 2007. Under these circumstances, we estimate a new hike for 2008, which would not be greater than 25%," DTZ said in a press statement.
 
Thus, average rents for A class office spaces reached some EUR17-18/square meter per month in 2007, while estimations indicate up to EUR21-22 /square meter per month in 2008.
 
The office space stocks are estimated at one million square meters, while estimations indicate over for 1.4 million square meters at the end of 2008.
 
As regards transaction market on the segment of office spaces, analysts estimate yields around 6.5%.