New trend shapes Timisoara office market: relocation from class B spaces to Class A offices for small companies

The office market from Timisoara is witnessing a new stage of development: the relocation of companies from Class B spaces to Class A offices and the increase in attractiveness of modern office projects for companies with less than 50 employees.

Vox Technology Park office project leased 1,600 square meters to several IT, technology and service companies, all deals have been closed in 2019, a press release shows.

”As the office market in Timisoara continued to develop and the modern office stock increased significantly, more and more small and medium sized companies discover the benefits of doing business in a modern office project with multiple facilities and that offers the opportunity of working in a space where there are also other companies from the same field, thus encouraging innovation and personal development”, said Vlad Vela, general manager of Vox Property Group, the developer of Vox Technology Park.

The relocation into o modern office building is also a method of staff retention in the context in which the unemployment rate in Timisoara dropped below one percent.

”Moving your offices to a modern building is a decision with a small cost that will make the employees happier. The additional cost between leasing a Class B office space and a Class A office is about 3 Euro for employee, which translates into 150 RON per month for every employee, less than a five percent increase for an medium wage in Timisoara”, added Vlad Vela.