DTZ: Only ones third of office space fits into class A

On Bucharest’s office building market only up to 300,000 square metres can be considered class A, according to local standards, say experts on the market. The stock of class A office space therefore accounts for one third of the total, or even less, if applying the Western standards, the same experts add. “Of the total stock of high-quality office space in the Capital, we estimate about one third can be considered class A, according to the practice of the Romanian market. However, there are few buildings that fit into this category if you take into account standards used on other, much more developed European markets,” says Mihai Plaesu, senior consultant at the office department of the real estate consulting company DTZ Echinox. The main criteria for rating office buildings are: for it to be located in a highly visible, accessible area with a surface of at least 1,000 square metres per floor, high-quality finishes, a modern ventilation system and at least one parking spot for every 70 square metres available for rental.