Recent trends in the real estate sector in Romania
Last year was the best in terms of new projects and real estate developments since the financial crisis in 2008, with the office stock reaching 2.7 million sqm. The positive trend can still be noticed in the first half of 2018, with more projects awaiting completion later this year. But how is the real estate sector in Romania looking in comparison to a few years back?
Recently, both employees and developers worldwide have agreed that an office is more than just the place one works in. As people spend a lot of time in the office, and millennials are becoming, slowly but surely, the majority of the workforce , there’s an increasing need to innovate and reinvent. In the past years, we saw the transition from cubicals to open spaces, and today we are witnessing the incorporation of more relaxation and leisure facilities in the office space. Pool tables, sofas to relax, game rooms, quiet rooms, pods are the norm, and a company can’t even hope to retain employees and drive engagement without offering these facilities.
Specialists say that more green office buildings will continue to appear on the Romanian market. This change is driven by both the demand from the young generations, and the increasing global need for sustainable developments. More campus-style developments are starting to show up in Romania, with green areas and interior gardens where employees can recharge and unwind.
The focus on wellness and well-being translates into developments with increased integration of daylight versus electrical light, fresh air intakes, larger spaces, out-of-the-box collaboration spaces. These are just a few of the features we’ve noticed so far in Bucharest and in the major business cities in Romania.
The offices of the future will be focused on a friendly, connecting environment, where people like to hang out, says a study by international real estate advisor, Savills.
photo credit: istock