The Center-North concentrates a double number of villas compared to the Ultracentral
I. Top areas with villas for rent in Bucharest
- In the first place, in the top of the areas in Bucharest with the most villas for rent is Center-North, with a total number of 539 villas for rent, but also as the available stock of (a total area of 31,929 sqm). The Center-North perimeter includes the areas of Victoriei, Arcul de Triumf, Kiseleff, Aviatorilor, Charles de Gaulle, Nordului, Stefan cel Mare, Domenii, Floreasca, Herastrau, Casin, Dorobanti and Primaverii. Of the 539 villas, 82 still have free spaces, the rest being fully occupied.
“Although in the Center-North is concentrated the most substantial offer of villas and the competition between properties is high, here the market is also the most dynamic. Demand for this perimeter has always remained at a higher level than in other areas of Bucharest, even in the most challenging years of crisis (2009-2010). As a result, it has attracted more people and companies to invest in villas for rent.
The area has many advantages – it is a business area, but at the same time a quiet one, with generous green spaces, with quick access to the airport, but also to the center. Last but not least, the villas have distinctive architecture, many dating from the interwar period, and are renovated to a high-quality level. The newly built buildings also offer many advantages: a certain efficiency of the spaces, being designed especially with wide-open spaces. These open spaces can sometimes successfully compete with those in office buildings “, said Alexandru Petrescu, manager of the company ESOP Consulting.
- In second place is the Ultracentral perimeter (Unirii, Universitatii, Dacia, Romana, Rosetti, Eminescu, and Batistei), with a total number of 233 villas for rent, of which 35 still have free spaces at this time.
- On the third place, as the size of the offer of villas for rent, is located Center-East, with a total of 247 villas, of which 47 have free spaces, the rest being fully occupied. The offices in the East are concentrated in Mosilor, Ferdinand, Mantuleasa, Calea Calarasilor, Iancului, Mihai Bravu, and Vitan and Foisorul de Foc.
- On the fourth place is the Center-West (with the areas Cotroceni, Stirbei Voda, Cismigiu, Plevnei, Mircea Vulcanescu, North Railway Station), on the fifth place Center-South (September 13, Budapest, Cosbuc, Maria Rosetti, Timpuri Noi, Drumul Sarii ) and on the last place is the North (Pipera, Baneasa, Aerogarii), the area developed almost exclusively on the segment of business centers.
The largest villa for rent that has spaces available for rent is located in the Primaverii neighborhood and has a total area of 1,400 sqm (in the attached image), of which the rentable area is 1,200 sqm. The spring office villa in Primaverii is located in the basement, basement, ground floor, two floors, and attic, has two buildings and 12 outdoor parking spaces and has all the necessary facilities: Schindler elevator, air conditioning, wiring for voice-data, etc.
The smallest villa with available office space in the ESOP portfolio has approx. 100 sqm and is located in the Victoriei area.
II. Free office space in villas versus BC type buildings
In number, in Bucharest, there are more than twice as many villas for rent than office buildings, built especially for this purpose. In total, on the market, there are 1,546 villas and 689 office buildings type BC (building center), class A, B, or C, according to data from the database of ESOP, the consultant with the most extensive portfolio of office space in Bucharest. From the point of view of the total area, however, most of the office space is located in business centers (over 2.3 million sqm), while in villas, it is up to 650,000 sqm.
“The villas are much better, in terms of the ratio between the number of fully rented buildings and the number of buildings that still have available space: less than 20% of villas in Bucharest still have free spaces for rent, while more than half the office buildings are still waiting to be rented (whether it is an area of 100 sqm or 7,500 sqm, the largest) “, says Alexandru Petrescu, manager of the consulting company ESOP Consulting.
“This aspect is quite natural, given that an office building has much larger areas and thus the probability that a floor or a certain module will be available at some point, is much higher,” adds Alexandru Petrescu.
In total, at the beginning of May 2012, in the ESOP Consulting database, 1,546 villas are registered. Of these, 1,235 units are fully rented, and 311 have spaces available for rent. The number of office buildings specially built for this purpose is much smaller – in total there are 689 units, of which only 274 are fully occupied. However, their whole surface is much larger, as well as the full stock of free spaces at this moment: approx. 711,237 sqm.
As a rentable area, about 88% of the total spaces for rent are in class A, B, and C office buildings and only 12% in villas (see chart below). In total, in the 311 villas, there is still an area of 100,812 sqm for rent.