CONSTRUCTION -Romania’s construction sector reached record highs in 2023 and 2024, amid strong private demand for certain property segments and a significant increase in public investments, but next year is expected to be challenging, according to an analysis by Colliers. -In January-August 2024 the volume of construction works in the country was down 2.5% on…
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Romania saw house prices increasing by 6.8% in the second quarter of 2024 on an an annual basis, according to Eurostat, the statistical office of the European Union. Among the EU Member States for which data are available, six showed an annual decrease in house prices in the second quarter of 2024, and twenty showed…
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Romania attracted €2.1 billion worth of foreign direct investment (FDI) from real estate and construction companies in 2023, accounting for 17.5% of the total investment volume recorded in the country, according to central bank data analyzed by Cushman & Wakefield Echinox. The real estate and construction sector became the second largest recipient of foreign capital…
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INVESTMENT -Foreign direct investments in Romania’s real estate and construction field increased by EUR2.1 billion in 2023, holding the second biggest weight in the overall FDI at end-2023, namely 17.5%, the National Bank of Romania (BNR) data analyzed by real estate consultancy Cushman & Wakefield Echinox showed. Furthermore, foreign direct investments in construction and real…
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In the first half of 2024 circa 50 hectares of development land were transacted in Romania, the great majority, meaning 81% of the total area being transacted within Bucharest and Ilfov County areas, according to CBRE’s Romania Real Estate Outlook H1 2024. Earlier in the summer, Colliers predicted that 2024 will be a good year…
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Insurance companies in Romania have paid 93.3 million lei (almost 20 million euros) in compensation over the past 10 years for the restoration of homes after natural disasters, according to the National Union of Insurance and Reinsurance Companies of Romania (UNSAR). “In the period 2013-2023, the financial support offered by UNSAR Member insurance companies for…
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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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