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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Office spaces for sublease in Bucharest put pressure on landlords

The office spaces for sublease in Bucharest put pressure on the traditional market not only because they represent supplementary supply (and a significant amount), but also because the short-term and the flexibility offered under the sublease contracts are appealing for small tenants that find such offers as ideal, according to a report of the real estate consultancy firm JLL.

According to JLL data, at this moment, the total area available for sublease has reached approximately 70,000 square meters, the largest that has ever existed on the Romanian market.

The vacancy rate for office space has risen relatively steadily over the last year, with all the expansion projects expected by the vast majority of customers contributing to this.

JLL specialists' estimates for 2021 and 2022 are that this rate will increase further because projects that already have pre-leased space cannot be postponed and may take longer to fill vacant spaces in the absence of an increase in net demand.

(Photo: Dreamstime)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Office spaces for sublease in Bucharest put pressure on landlords

The office spaces for sublease in Bucharest put pressure on the traditional market not only because they represent supplementary supply (and a significant amount), but also because the short-term and the flexibility offered under the sublease contracts are appealing for small tenants that find such offers as ideal, according to a report of the real estate consultancy firm JLL.

According to JLL data, at this moment, the total area available for sublease has reached approximately 70,000 square meters, the largest that has ever existed on the Romanian market.

The vacancy rate for office space has risen relatively steadily over the last year, with all the expansion projects expected by the vast majority of customers contributing to this.

JLL specialists' estimates for 2021 and 2022 are that this rate will increase further because projects that already have pre-leased space cannot be postponed and may take longer to fill vacant spaces in the absence of an increase in net demand.

(Photo: Dreamstime)

andrei@romania-insider.com

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