Romanian transactions value in real estate at over EUR 400 mln in H1, over EUR 1 bln investments this year, says Colliers International

Georgiana Bendre 26/07/2017 | 15:37

The real estate market in Romania was dynamic in the first half of the year, with the overall transactions value exceeding EUR 400 million. The sector will register EUR 1 billion in investments this year, according to Colliers International.

Big transactions were recorded in the industrial and retail sectors, such as the sale of Dacia Pitesti warehouse to Globalworth, a transaction intermediated by Colliers International for EUR 42.5 million, as well as the transaction between Iulius Group and Atterbury Group.

„The average value of transactions increased significantly compared with 2016 and we estimate that 2017 will continue to be a very good year for investments market. The high transactions volume proves that the market becomes more liquid and the investors are interested in the portfolio diversity, Also, we observe a tendency of the international investors to create partnerships with the local developers. This dynamism will lead to a total volume of investments of EUR 1 billion this year, making 2017 the best year for this market from post-crisis period,” said Mihai Patrulescu, head of Strategic Analysis within Colliers International.

On the industrial spaces market from Bucharest, there were around 150,000 sqm delivered, especially in western and northern areas and close to A1 highway. The demand came from the e-commerce sector, auto and FMCG, as well as electric-IT and logistic companies, which rented spaces in the main industrial parks: Network One Distribution – 30,000 sqm in CTPark Bucharest West, KLG – 9,755 sqm in CTPark Bucharest West, Ikea and Heineken – 8,000 sqm, respectively 6,000 sqm in LogIQ Mogosoaia.

„Taking into account the activity from the industrial market until now, we expect deliveries of approximately 250,000 sqm in Bucharest and other 100,000 sqm in the rest of the country until the end of this year. The developers focus more and more on locations under development, such as Timisoara, Sibiu, Pitesti, Cluj-Napoca, Ramnicu Valcea, Brasov or Roman”, said Patrulescu.

In the retail sector, the new projects will include retail parks in smaller cities, respectively expansions of the existent commercial centers from big cities.

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