Office rents in Bucharest on the rise

Bucharest has climbed 15 positions this year, reaching 63rd place in the ranking of the most expensive cities in terms of rent for high-quality office space, according to a study drawn up by CB Richard Ellis (CBRE). Rents for the Class A offices in the capital have increased in the past 12 months from 28.8 dollars/sqm (22.8 euros) to 33.7 dollars/sqm (26.7 euros). In Central and Eastern Europe, rental value remained relatively steady, with slight rises being registered in Bucharest, Moscow, Bratislava, Prague, Sofia and Warsaw. The Russian capital is the only city in the region that is amongst the 50 most expensive locations, with prices of 94.7 dollars/sqm (75 euros). At the opposite end is Sofia, where costs are as little as 22.1 dollars/sqm (17.4 euros). The top ten positions of the CBRE ranking are filled by London (137.5 euros/month/sqm in the West End), Tokyo (96.3 euros/sqm in the Inner Central area), London City (94.5 euros/sqm), Tokyo (87.3 euros/sqm in the Outer Central area), Hong Kong (75.3 euros/sqm), Moscow (70.2 euros/sqm), Mumbai (68.9 euros/sqm), Paris (68.5 euros/sqm), Dubai (64.9 euros/sqm) and Dublin (64.8 euros/sqm). ZF