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Bucharest goes up to two places in the top most expensive industrial locationsUpdated: 17-03-2010 | Business
Bucharest took the 36th spot in the Cushman & Wakefield's list of most expensive prime industrial locations in the world by rents, up ten places from last year. In Bucharest a company pays a rent of €57/sqm/annum for prime industrials spaces, or €4.75/sqm/month. "Occupancy costs for industrial spaces will generally remain at last year's level. The vacancy rates stands currently at 10-12%, compared to 4% in 2008", said Gabriel Sfetcu , Head of Industrial at Cushman & Wakefield Romania.
For 2010, the real estate consultant expects a minor increase in industrial space demand, led by small spaces of 1,000sqm - 2,500 sqm.
"We expect to see a slim increase this year of 10% at the most from 2009", Sfetcu pointed out.
Industrial rents in the logistic segment stands below the level recorded in Sofia where the annual rent is €61.11/sqm but above Budapest where a company pays €49.80/sqm/annum.World's most expensive industrial locations as listed by the real estate consultant are: London (€200.28/sqm/annum), Tokyo (€151.73/sqm/annum) and Hong Kong (€145.89/sqm/annum).
Cushman & Wakefield Romania is one of the largest real estate advisers in the country, with revenues of €5.4 million in 2008. The company said recently it completed the leasing of a 1,700sqm industrial space in Monsena Distribution Center.
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