Which offices do SMEs prefer today?
The office space market in Bucharest, remains underutilized, facilitating the multiplication of pre-lease contracts as well as the increase of occupancy rates. Small and medium-sized spaces, between 150 and 350 square meters, are increasingly difficult to find on the market, which considerably restricts the options of SMEs.
According to ESOP estimates, in the last 6-8 months, there has been a new trend on the market, namely the increase in requests for renting space in office centers. The growth registered by the rents of the villas (which today reach values between 19-26 euro/sqm, depending on the location and endowments) made the small and medium-sized companies reorient to small office buildings, where there is the possibility of renting floors.
“Approximately 75% of the total requests in this segment came from companies that stated as the main criterion the finding of quality space in a business center”, says Andrei Zamfirescu, Offices Consultant at ESOP. Investors should seize the opportunity to develop medium-sized buildings as a higher price can always be obtained for the finishes and facilities offered.
The payback time of the investment can be much reduced if the rent is agreed on levels, thus proving more considerable attention to the needs of SMEs. Small and medium-sized companies have a dynamic nature; they usually target up to 1000 square meters of office areas and appreciate the locations with excellent access to public transport. 2007 represents the year with the lowest supply level for the SME segment, compared to the demand on this market.