Villa Rentals in T1 2014

VILLA RENTAL TRENDS T1 2014: were sought villas with large surfaces, renovated, with finishes

ESOP Consulting press release

In the first months of 2014, the average rented area in villas for offices increased from 249 sqm to 479 sqm. Along with the most requested areas in the North Center – Primaverii, Aviatorilor, Dorobanti increased interest in central areas – 13 Septembrie, Stefan cel Mare, and Foisorul de foc.

The villa rented by Little Team through ESOP Consulting is representative for the type of property sought by tenants in the first months of 2014: the central area, representative construction, with a larger area, with landscaped garden and at a rate below 10 euro/sqm/month.

“We found that in the last 24 months the interest of Romanian entrepreneurs providing personal services (private schools, kindergartens, after-school, nutrition offices, medical clinics, etc.) to find new locations and expand the activity has increased, which denotes the importance that Bucharest residents attach to investments in health and education “, says Alexandru Petrescu, Managing Partner of ESOP Consulting | CORFAC International.

Little Team rented a villa with a built area of ​​1,110 sqm and a total rentable area of ​​689 sqm. It intends to open a kindergarten and a private school. Mention should be made of the central area chosen by Little Team, September 13 – Marriot, near the People’s House, with easy access to all neighborhoods of the Capital and future development, as work progresses on Uranus Boulevard, which will connect the North to the South of the Capital, at which has already inaugurated the first section.

Among the facilities of the building rented by Little Team through ESOP Consulting are quality finishes, insulated windows, parquet, high-performance heating, and cooling systems, it’s own central heating, voice-data infrastructure, alarm system, and landscaped yard.

  • REQUEST In the first three months of 2014, the clients who moved to villas chose mainly central areas – September 13, Stefan cel Mare, Foisorul de Foc, with average budgets of up to 10 euro/sqm/month.
  • OFFER Regarding the offer of office space in villas in Bucharest, at the beginning of 2014 about 67% of their total have presentation rents of up to 11 euro/sqm/month, 20% an average rent between 11.1 and 15 euro/sqm/month and 13% over 15 euro/sqm/month.

Most of the available villas are located in the north-central area of ​​the Capital – a total stock of 50,025 sq m and the lowest in the southern region – according to the attached chart.

Evolution of the “office space” market segment in villas

  • In 2013, the total volume of office space rented in villas increased by 23%.
  • In 2013, ESOP Consulting rented office space located in 37 villas in Bucharest, which totaled an area of 12,217 square meters.

The tenants have chosen spaces with very different surfaces, from apartments in villas of 80 sqm, to integral buildings of 1,493 sqm, most transactions in villas targeting the Aviatorilor, Primaverii and Universitate-Romana areas.

“In 2014, we estimate that the segment of office rentals in villas will keep its dynamism and together with the companies that choose the villas because they better suit their type of activity (such as law firms, advertising, consulting) will select the villas and companies that provide personal services that are currently expanding “, says Alexandru Petrescu, Managing Partner of ESOP Consulting | CORFAC International.

Maria Neda

PR & Media Coordinator, PR & Media Consultant, with background as a journalist in the economic press and experience as a consultant in Urban Development.

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