Thus, approximately 3.200 square meters of modern office space were delivered this year in Cluj – Napoca, compared to 20.500 square meters delivered in 2020 in the city, according to a market report released by real estate consultant SVN Romania | Cluj.
In this context, the vacancy on the A Class segment dropped to less than 2%, compared to 5% last year and 6.3% in 2019. Only 5,000 square meters of office space are at this moment under construction in the city, with delivery set for 2023. Additional, the structure of a 7,000 square meters office building is completed and could be delivered next year but depending on several parameters.
”The vacancy rate on the office market in Cluj – Napoca is very low and we do not have a generous pipeline. A company that wants today an office of 1,000 square meters will find it very difficult identify a available space. The absence of a satisfactory short – term offer can cause new entrants in Romania to choose other cities, as competition between regional centres is fierce. At the same time, the total take-up decreased significantly in 2021, with no large-scale deals signed this year”, stated Cristian Simon, Head of Commercial Office SVN Romania | Cluj.
The significant decrease of vacancy rate to the lowest level in recent years maintained the headline level of rents for prime office locations in Cluj – Napoca at EUR 13 – 16.5 / square meter / month.
Cluj – Napoca is the second office market in Romania, with a A Class office stock of 298.000 square meters and a total office stock, including the B Class segment, of 353.700 square meters.