For multinationals looking for a presence within Central and Eastern Europe, the Romanian capital Bucharest is emerging as a key base, according to Knight Frank, which reports that take-up of office space in Bucharest reached a five-year high in 2014 with the IT and communications sector accounting for 43% of total leasing activity.

Orange, Vodafone, Microsoft and Oracle now have a presence in the city with several having leased 10-25,000sqm of office spaee in the last 12 months. Knight Frank’s new corporate rentals and relocation team is assisting corporate tenants, but also expats and private clients, in finding the right home in Bucharest.

The firm reports that established neighbourhoods in the capital include Herastrau and Primaverii but also emerging districts such as Baneasa (Sisesti) and more recently, Dimitrie Pompeiu are increasingly popular as tenants look to gain easier access to their offices and cut commute times.

A four bedroom family home in Aviatorilor or Kiseleff typically rents for $2,250-4,000 per month while a young executive wanting a central location can still find a 2-bed apartment for $680 per month.

Meanwhile, local estate agent Nordis has reported that expats have been moving to the northern part of Bucharest, with rental requests up by 7% for apartments and 5% for villas, compared to the same time last year.