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Articles - real estate market

Romanian Commercial Real Estate Market: A Dip in Q3, But Optimism Ahead

CBRE launched its traditional end of quarter research snapshots of the local commercial real estate market, analysing the status of the investment, office, industrial & logistics and retail sectors.

The number of sold properties increased in H1 2023, but the average price per asset decreased by more than 50%

The number of sold income – generating real estate properties (office, retail, industrial & logistics spaces and hotels) during the first half of 2023 increased by 30% when compared with the same period of last year, but the average price per property decreased from €24 million to €11 million. Therefore, the transactional volume has seen an y-o-y decline of 43%, to a level of €181 million, according to data from the Cushman & Wakefield Echinox real estate consultancy company.

Proposed fiscal measures may cause RON 7 billion annual revenue loss in Real Estate sector

In a position letter submitted to the Romanian Government, the Association of Real Estate Investors in Romania (AREI) estimates that the proposed fiscal measures targeting the Real Estate and Constructions industry could lead to RON 7 billion in losses from the revenues generated annually to the state budget, the equivalent of a 10-12%decrease in business volume.

Romanian real estate market concludes a favorable first half of the year

Consistent with the economic deceleration, the Romanian real estate market is displaying signs of moderation across various sectors, although the overall performance remains robust, as outlined by experts from Colliers Romania in their first-half outlook.

Real estate market remains solid, despite signs of economic slowdown

Romania’s real estate market has enough resources to continue developing in 2023. This is thanks to the fact that a 3-4% expansion rate for the local economy is achievable even in the current context, where the conflict in Ukraine and the full effects of monetary policy tightening in the Eurozone and the US have not yet been fully felt, Colliers consultants predict.

Real estate assets’ values in Romania are under pressure amid accelerating growth in government bond yields

Romania’s 10-year Eurobond yield has recently surpassed the 8% level compared to below 2% three years ago, while for countries in the region, as well as for major economies such as Germany, the increase has been significantly lower.

Demand for offices and industrial spaces increased in the first half of 2022

Demand improved during the second quarter, while deliveries are limited and vacancy rates continue to fall, according to the Bucharest City Report Q2 2022, published by real estate consultancy JLL.

The Romanian real estate scene continued its accelerated recovery in the first half of the year, but it will be difficult to maintain the pace in the coming period

The Bucharest office market returned to pre-pandemic levels, the industrial and logistics spaces are going from strength to strength, while the investment market could reach its highest level in more than 10 years, according to Colliers’ Mid-Year Report for 2022.

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