Cluj-Napoca recorded a fourfold growth in office leasing in 2024 and was the biggest regional market for such transactions, according to a Fortim Trusted Advisors analysis.
In regional cities, companies leased 63,024 sqm of modern office space, including new leases and renegotiations, of which Cluj-Napoca accounted for 48,008 sqm, holding a share of 76%.
Nicolae Ciobanu, Managing Partner - Head of Advisory at Fortim Trusted Advisors, notes that Cluj-Napoca is the second-largest office market in Romania, with Timișoara and Brașov following.
“In 2025, we expect these three local markets to continue to perform,” he added.
While Timișoara maintained its second-place ranking, it saw a decrease in rental volume compared to 2023. Meanwhile, Iași experienced a decline in transactions due to a lack of new office building deliveries.
Across Romania, lease renewals (26,957 sqm) outpaced new leases (21,051 sqm).
The appeal of regional cities like Cluj-Napoca stems from the comparable quality of office spaces to Bucharest, but with rents 20-25% lower, driving increased interest in these markets, finds the analysis.
