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Articles - studiu

After a year of uncertainty, optimism returns to the real estate market in Central Europe

The real estate market professionals in Central Europe returned to the level of optimism registered before the pandemic. Almost 40% of them expect an improvement in the general economic climate this year, 46% have positive expectations regarding real estate activity, and 48% rely on increasing the volume of transactions, according to the Deloitte Real Estate Confidence Survey for Central Europe 2021, conducted in the first quarter of this year in four countries in the region – Romania, Poland, the Czech Republic and Hungary. At the same time, 58% of the respondents expect the availability of investment products to increase in countries where they operate.

Almost 88% of Romanian employees believe that offices will exist in the future, but most say that post-pandemic workspaces need to be transformed

After a year and a half of working mostly remotely or in a hybrid system, Romanian employees say that the office will play an important role in their lives at work and after the pandemic passes. Almost 88% of them believe that their office will exist in the future, most expecting a transformation of the space in which they worked before, according to a recent survey initiated by Genesis Property among 1,183 employees across the country.

The Romanian investment market closed the first quarter in 2021 with transactions worth 85 million euro

The volume is 42% lower than in the first three months of the pre-pandemic year, following similar trends to the CEE region

Bucharest office market registered a consistent return of demand in the last quarter of 2020

In the last quarter of 2020, in Bucharest there were transactions of office spaces with a total area of 77,000 square meters, the highest quarterly value of the year, thus bringing the annual volume of transactions to approximately 237,000 meters squares, according to the real estate consulting company Cushman & Wakefield Echinox.

Investment volumes down at €588.5million in 2020, but Romania remains on the radar of investors

Romania’s commercial real estate investment volume ended 2020 with a volume of €588.5 million*, half versus 2019 but similar with 2015, a starting growth year, according to CBRE Romania Real Estate Market Outlook. For 2021, Romania remains on the radar of investors and the combination of limited supply and better than envisaged demand may trigger surprising movements in pricing.

Top 10 predictions for the real estate market in Romania in 2021

2021 is expected to be a year of recovery, but the pandemic will still have a great influence.

Bucharest office market continues to develop, amid a slight return in demand in the third quarter

The office market in Bucharest continues to grow, in the first nine months of the year being delivered new spaces with a total area of 124,000 square meters, while developers have in various phases of construction buildings with a cumulative area of 388,000 square meters, according to real estate consulting company Cushman & Wakefield Echinox.

Almost 90 pct of obligations to office building owners were paid by tenants

Almost 90% of tenants paid their obligations on time to the office buildings owners in the first half of the year, even though some spaces were not occupied during the state of emergency.
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