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Bucharest – among the cheapest European capitals in terms of office rental costs !



Bucharest is seconded by Budapest , followed by Talin , Vilinius and Riga ( positions confirmed by a study done by DTZ , which analyzed over 34 real estate markets in Europe !

On the other side of the barricade in terms of prices for office rental costs  we can find Oslo, Paris, Zurich, Geneva and London, ( according to the  same study ) .

A scenario developed by consultants  working for DTZ show that during 2013 and 2014 in Bucharest costs could stagnate at current levels, with a risk of loss of up to 2%.

When calculating the actual price per job location , one must consider the costs for rent and those used for maintenance and taxes.

The study shows that in the five cheapest markets in Europe – Budapest, Tallinn, Vilnius, Riga and Bucharest ,  office rents could fall in a similar  proportion or even lower than the European average.But on these particular markets , rents have already a low level and we do not expect to see a strong comeback , not even scenario – based. By contrast , in more expensive markets the risk for rents to fall is much higherIn Bucharest , the office market experienced a slightly recovery and a cost stagnation could  draw some companies to invest in Romania.Once several important projects were  finalized , the office stock increased in Bucharest : for example Barbu Vacarescu area suffered a significant development in recent years.In 2012 the talles civil  building  was build here :  counting 137m and 37 floors.

The SkyTower building was designed with  premium class offices, large and flexible spaces for any type of company. The structure was completed in mid-July last year and handed to  the first tenants in early December. Each floor has an area of 1,150 square meters and a total of 41,200 sqm GLA. Among the  advantages that this  building has to offer   we can outline the  natural  daylight found in all the office places  , a BMS (building management system), but also high efficiency if we consider the level of energy spent on site.

Starting March this year Raiffeisen Bank will move its headquarters here.The number of employees that are about to be re located is 2300.The investment  done by Raiffesen Property International (Raiffeisen group’s real estate division ) has reached the amount of over 100 milion Euro.

Article published on : www.hotnews.ro

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