In the capital, where the market has already become stable, analysts do not rule out a drop of some 15 percent in rental prices, according to a report by RE/MAX real estate agencies network.
In the past year, rents of A class offices in the northwestern city of Cluj-Napoca, have increased up to 50 percent, to a level similar to prices in downtown Bucharest, RE/MAX analysts say. “Monthly rental fees for A class offices in Cluj-Napoca rose to €25 per square meter in June, compared to €20 per square meter in January and €16 per square meter in June 2007,” according to the owner of the Cluj-Napoca RE/MAX Class real estate agency, Florin Popa.
In downtown Bucharest, rental prices for office space is €23-25 per sqm and is not likely to drop, because of high demand,” according to DTZ Echinox consulting company.
In the western city of Timisoara, rental prices can be as high as €35-40 per sqm and the number of office buildings is rising, according to a representative of RE/MAX EdyInvest real estate agency based in Timisoara, Luminita Schiopescu. In the northwestern city of Arad, the high for rental fees is €25 per sqm.
