In comparison, an office space project like Timpuri Noi Square developed by Vastint was recently inaugurated with an occupancy rate of about 50%, lower than on the logistics market. Consultants say the pre-letting risks on the logistics market are lower.
“The vacancy rate of modern industrial space has reached an all-time low. This means most talks are now held over space to be built,” says Costin Banica, head of industrial agency with real estate consultant JLL.
The rising interest of tenants comes at a time when consumer spending went up 8.1% in the first seven months of the year and 7.2% in July to June. Private consumption shows in the retail sales, that is in key sectors such as furniture, fashion, home appliances and pharmaceutical retail. These are the sectors with the highest demand for space and behind the most rental deals.
(English version by Loredana Fratila-Cristescu)