A recent study by Storia and OLX Imobiliare revealed that 53% of Romanian users of the real estate platform plan to buy a vacation home within 6 months, while 30% aim to buy within a year and 15% within 3 years. According to the data collected in June 2024, the majority of respondents (50%) have…
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The number of building permits for residential projects issued in Romania in January-August 2024 increased by 2% to 23,772 year-on-year, the National Institute of Statistics (INS) said. The most important jumps were recorded in the Sud-Muntenia (+264 permits), Vest ( +202), Bucharest-Ilfov (+137), Nord-Est (+79) and Sud-Vest Oltenia (+64) regions. On the other hand, decreases…
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Romania maintains the third position in the top of the European countries with the cheapest new housing, after Balkan neighbors Bosnia and Herzegovina and Greece, with an average price of 1,504 EUR/sqm in 2023, slightly up from 1,461 EUR/sqm in 2022, according to Deloitte Property Index 2024, conducted in 24 countries based on data from…
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Bucharest-listed One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, is carrying out restoration works on the former Ford Hall which was built in 1935 for the Ford car factory in the Romanian capital. Located in the Floreasca area, the historic building will be…
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In January-September 2024, Romanian mergers and acquisitions (M&A) recorded 198 transactions, up 8.2% on an annual basis (183 deals), EY Romania said. The estimated value of Romanian M&A activity rose by 22.3% year-on-year (YoY), reaching USD 5.2bn vs USD 4.2bn in 9M 2023, and was primarily driven by robust activity in the Power & Utilities…
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The National Bank of Romania (BNR) kept its benchmark interest rate unchanged at 6.5 percent on Friday (Oct. 4), following two consecutive rate cuts. Moreover, it decided to leave unchanged the lending (Lombard) facility rate at 7.50 percent per annum and the deposit facility rate at 5.50 percent per annum. The annual inflation rate went…
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OFFICE -Bucharest office space occupancy costs grew by around 10% in the past two years amid the rising building operational costs and the indexing of rents against inflation, according to data provided by real estate consultancy Cushman & Wakefield Echinox. -EVO Properties announced the first project on the Bucharest real estate market, which aims to…
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RETAIL -The Central and Eastern Europe (CEE) region (Romania, Bulgaria, the Czech Republic, Hungary, Poland, and Slovakia) presents an increasingly promising environment for major international brands, including luxury brands, with significant potential for expansion and profit margins, according to Colliers’ recently published report ”Luxury Retail Brands in CEE”. In Romania, most exclusive brands in the…
Read MoreRESIDENTIAL In H1 2024, a total 25,936 housing units were put into use in Romania, fewer by 6,141 units (-19%) than in the same period a year ago, data from the National Institute of Statistics showed. On an annual basis, decreases were observed in all regions: Bucureşti–Ilfov (-2193 housing units), Sud–Est (-1494), Centru (-926), Nord–Est…
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DEALS -The number of real estate deals in Romania stood at 51,067 last month, 5,954 fewer than in July and 8,358 fewer than in August 2023, data from the national cadaster agency ANCPI showed on Tuesday (Sept 10, 2024). -In H1 2024, real estate transactions in Romania increased two and a half times compared to…
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