Romania's green office stock is significantly higher than anywhere else in Europe, given that 70 percent of its office buildings are green certified and 85 percent of the workspaces are classified as sustainable, real estate investment company CBRE said.
According to the cited source, 88 percent of the domestic office building transactions last year involved properties with sustainability certifications, making the office segment the most representative when it comes to sustainability-compliant buildings, followed by logistics and retail.
"There's a clear trend visible in Europe: tenants are very interested and willing to pay higher rent for sustainable office space. The percentage can range from 10% to almost 30% in cities such as Copenhagen, Barcelona or Amsterdam. In Romania, this percentage is squarely in the middle, at 16.5%, but we've had cases with even higher numbers. We had companies relocate from older to greener buildings in the same area of Bucharest, for an extra 25 percent in rent for a new premium office: from 11 euros/sqm to 14.5 euros/sqm net. This clearly reflects a sustainability driven relocation trend. A number of stable tenants have decided to relocate driven by their new corporate sustainability goals. At this moment we are talking about an increase, but once the ESG criteria become a must for tenants, being green could mean having occupied buildings," Luiza Moraru, head of property management EEC at CBRE, told the CEDER 2022 conference.
In Romania, 69 percent of the modern stock of retail space was delivered before 2013. Of the 4.03 million sqm existing at the moment, only 0.53 million sqm of retail space have been refurbished in the last 3 years, which shows that redevelopment projects will outperform new developments. AGERPRES