The office space field was seen as booming until recently, fueled by the country’s economic growth, the development of companies, and a shortage of office buildings. Meanwhile, many projects were finalized as the international financial crisis hit Romania, making companies more cautious or unable to expand.
According to estimates made by Euroest real estate agency, projects to be finalized this year total 380,000 sqm, 25 percent higher year-on-year. Ten A class and nine B class buildings are to be delivered this year in Bucharest alone, according to DTZ Echinox advisory company. These buildings will be the target of investors with available liquidities, who seek cheap investments that are set to provide good yields. “It is likely that these properties are being eyed by investors, but we are talking about speculative investors who will target mainly investors facing difficulties,” DTZ Echinox Business Development Director, Cristian Ustinescu, told Business Standard.
Although investment funds are on stand-by on all real estate segments, the office segment remains the most attractive, consultants say.
