The work space that companies offer to their employees has become an important element in talents’ attraction and retention, so that companies allocate between EUR 300-800/sqm for offices furnishing, says JLL Romania, the real estate consultancy firm.
The recent studies showed that the work space has become more important in choosing a job than a salary.
“Developers, investors and tenants give a higher and higher attention to offices furnishings, in the context of changes in behavior of employees. Thus, we see a higher demand for these projects, in the companies’ attempt to offer better work conditions for employees. According to the facilities and services included, companies are willing to spend up to EUR 800/sqm for offices furnishing,” said Cezar Florea, associate director, head of Project and Development Services JLL Romania.
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The budget for offices furnishing differs according to the tenants’ activity domain. The biggest budgets are allocated by IT&C companies, where there is fierce competition for talent.
The investment obligations in offices furnishing can be different according to terms of renting contract. In some cases the office buildings’ landlords bear these costs, which is reflected in the rent level, while in other cases the tenant is responsible for the rent.
According to a JLL study at EMEA level, the average cost of offices’ furnishings from Bucharest is comparable to the one from other cities from central and southeastern Europe. The costs grow in western Europe up to EUR 880/sqm in London, EUR 835 /sqm in Frankfurt or EUR 805/sqm in Amsterdam.
“Despite the technology evolution and the increase of automation that we see in the real estate sector, the human factor is still the central element in the office buildings. The work space that a company has for its employees can have a direct impact on the satisfaction and productivity level,” added Florea.