In the same period of 2012 and 2011, this share didn’t exceed 15%, the difference being due to the large number of contracts signed in 2008-2009, which came to term this year.
In most cases, the renegotiation transactions come in package with the contractual term extension, but there is also a growing number of the renegotiation transactions per se.
Considering the level of new demand on the market, this represents a minority, fewer than 10% of the total area transacted during the entire term. CBRE has made such a transaction in the first half of the year, assisting an international company from tourism field, recently entered on the Romanian market.
The main field of the office market transactions was in the first part of 2013 the financial/banking sector, 50% of the total area transacted by CBRE being represented by deals for companies in this field.
CBRE Romania has assisted nine transactions with a total area over 18,000 sqm on the local office market in the first term of this year, for international tenants exclusively.
Most of the company’s transactions in January-July were represented by renegotiation and extension transactions, CBRE obtaining for its tenant clients cost reductions with a total value of more than EUR 4.2 million.
„The transactions made by CBRE in the first half of the year represent a proof of the growing activity on the office market in Romania, which could play an important role in the development of the entire local real estate market. We notice two main tendencies on this market: a constant need of the tenants to efficient the costs, as well as the need to analyse in detail the optimal use of the rented area”, has declared Razvan Iorgu, general manager of CBRE Romania. (source: dailybusiness.ro)