Office Space Market in 2013

I. In the first half of 2013, the number of average companies looking for offices increased by 21%

• The volume of demand in S1 2013, compared to S1 2012
• Demand structure in S1 2013, depending on budgets and changes compared to S1 2012
• In S1 2013, ESOP Consulting registered a 23% increase in the volume of transactions compared to S1 2012

In S1, 21% more average companies were looking for offices compared to S1 2012. The total area requested is 9% higher. The first quarter of 2013 was even better than last year in the office space market for medium-sized companies. In S1 2013, the volume of office requests from medium-sized companies increased, both in terms of the number of companies looking for offices (by 21%, from 669 in the first half of 2012 to 810 companies in the first half of 2013) and as the total area (by 9%).

“The segment of office space rentals in Bucharest maintained its dynamism in the first 6 months of the year amid Romania’s political and macro-economic stability, and we estimate that this trend will continue in the second half of 2013”, says Alexandru Petrescu Managing Partner | ESOP Consulting.

II. The share of small budgets decreases slightly but still dominates the market

Against the background of the increase of the demand by 21%, related to the number of requests and by 9% related to the surface, its structure also changed slightly, depending on the budgets. Thus, the share of applications below 11 euro/sqm/month decreased by 3% (compared to 78% in the first half of 2012), while the share of budgets between 11 and 15 euro/sqm/month increased by 2% and respectively of those over 15 euro/sqm/month with a percentage.

III. Evolution of ESOP Consulting transactions: in S1 2013, ESOP Consulting registered a 23% increase in the volume of transactions compared to S1 2012

This increase in the volume of spaces rented through the company ESOP Consulting in H1 2013 comes after the level of the entire year 2012 there was an increase of 30% of transactions, compared to 2011.

“We have managed to constantly increase the volume of transactions with office space in the last 3 years and to consolidate our leading position on the office rental market for medium-sized companies, and our goal by the end of 2013 is to trade over 40,000 square meters,” says Alexandru Petrescu from ESOP.