From the 126 markets studied, 65 are up by occupancy cost, 15 maintained on the same positions and 46 have lost positions.

Bucharest is included in the 37 markets which gained more than 3 positions in the world’s most expensive office markets. Therefore, according to CBRE data from October 2015, the occupancy const for the offices in Bucharest was EUR 287.4/sq.m/year, with 2.1 pct growth compared to 2014. In these conditions, the companies are paying EUR 23.95/sq.m/month for the offices, with EUR 18.5/sq. m/month for rent. In the occupancy cost are also included the tax and service charges.

”Four of the rising markets–Prague, Warsaw, Bucharest, Belgrade–were in Central Europe, which has performed better because of the pick-up in the Eurozone and the benefits it offers in terms of a low-cost location for manufacturing and service sector activity.”, the report shows.

Bucharest is more expensive than Sofia, Valencia (Spain), Porto (Portugal), Malaga (Spain), Belgrade (Serbia), Johannesburg (South Africa), Bangkok (Thailand), Canberra (Australia) or the suburbs in Chicago and Calgary (Canada).

Prime occupancy costs–which reflect rent, plus local taxes and service charges–increased at a 2.4 percent annual pace globally, as the world economy continued to gradually improve and the service sector, a key bellwether for prime office space, entered its fourth year of expansion, driving healthy demand for space in top-quality properties. (source: profit.ro)