EnglishRents for office spaces have begun a speedy drop all over the country (20.1% to 45% last year). Rent in Braşov dropped 31%, according to the website imobiliare.ro, from EUR 9.27/sqm to EUR 6.40 /sqm, which makes it the town with the lowest rent for office spaces in the entire country.
The town with the steepest drop in office rental prices is Iaşi, where rent reached EUR 6.78/ sqm. Bucharest office rents dropped 26.7% in Bucharest, in the March 2009 - March 2010 period, from an average rate of EUR 14.1/sqm to EUR 10.33/sqm.
Office rents dropped 30.7% in Cluj-Napoca, from EUR 10.26/sqm in March 2009 to EUR 7.12/sqm one year later.
Percentage wise, the largest drop in office rents was in Constanţa and Iaşi (41.5%). Rent in Constanţa dropped from EUR 11.59/sqm to EUR 6.78/sqm, while in Iaşi prices went from EUR 12.04 to EUR 7.05 /sqm.
Timişoara saw the smallest drop in office rents (just 20.1%, from EUR 8.64 to EUR 6.9 /sqm).
Adrian Erimescu, the head of the portal imobiliare.ro, said that the decrease was caused by the new office space projects which entered the market over the course of the last two years.
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