Rental Price of Office Areas Falling

2009-03-12   |  Novinar Daily, vol.57, 12.03.09

More and more office owners become more tolerant to companies leasing their business spaces that have financial difficulties due to the economic crisis, Novinar Daily notes. The lessors even offer to decrease the rental price in order to keep their clients.

Brokers say that owners of offices and business areas most often are ready to rent out their properties cheaper for a period of 3 to 6 months and then gradually to increase the price. For example, if the monthly rent of an office is 1,600 EUR it could be temporarily reduced to 1,000 EUR and then go back to the higher rental price.

Most often companies rent offices with areas between 150 and 300 sq.m. However, bigger companies also look for bigger spaces of up to 2,000 sq.m., brokers explain. Rental prices vary between 6 and 24 EUR/sq.m.

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