Romanian Real Estate

LOGISTICS CTP, Europe’s largest listed developer, owner and manager of industrial and logistics properties by gross lettable area (GLA), has completed the structure of its latest production and logistics project in Arad (western Romania), CTPark Arad West. RETAIL The first half of 2023 saw a low pipeline of new modern retail projects deliveries, but the…

OFFICE Almost 40% of white-collar workers go to the office every day and 28% of them work in hybrid system, about a third of the employees work exclusively remotely, according to the latest survey conducted by local online recruitment platform Bestjobs. CONSTRUCTION The number of residential building permits issued in January-May 2023 amounted to 14,122,…

OFFICE The companies are still in search of qualitative upgrades, in Bucharest, despite the slowing down of deliveries, also impacted by the evolution of hybrid working, according to CBRE’s 2023 European Occupier Survey. PRODUCTION FACILITIES Central and Eastern Europe (CEE), including Romania, are actively benefiting from the relocation of production facilities from far-away locations, such…

RESIDENTIAL A total 15,329 housing units were put into use in the country in the first quarter of 2023, down 3.6% y-o-y, the National Institute of Statistics (INS) data showed. A total of 9,429 units were delivered in the urban region (up 2.8%), while the number of dwellings delivered in the rural area was 5,900…

INVESTMENT -Romania’s real estate investment market saw deals worth EUR120 million in Q1 2023, accounting for almost 10% in CEE-6 volume, according to a Colliers analysis. -Northern Bucharest’s Pipera area represents one of the biggest attractions for young families and those looking to make a real estate investment that guarantees generous returns through rentals or…

CONSTRUCTION –Prices of construction materials went up 3.1% y-o-y in Romania in the first quarter of 2023, Ziarul Financiar reported. –The construction sector’s growth at the beginning of 2023 came mainly from the retail and manufacturing segment but also from the logistics sector, as international operators continue the development of networks in Romania, according to…

RESIDENTIAL Last month, Romanians viewed 16% fewer pages of real estate listings than in March and made 15% fewer contacts, according to the latest data from Storia.ro, the real estate platform launched by OLX. Taking into consideration 10 cities with the highest number of listed properties (Bucharest, Cluj-Napoca, Timișoara, Constanța, Brașov, Sibiu, Iași, Arad, Craiova…

RESIDENTIAL Over 58.2% of homes sold in Romania in Q1 2023 were bought with funds exclusively from own resources, without resorting to a mortgage financing, a market report by real estate consultant SVN Romania reveals. RETAIL During the first quarter of 2023, approximately 30% more franchise businesses were opened in Romania y-o-y, according to Franchwise,…

HOTELS The Transilvanian city of Brasov will add four hotels with a total of 600 rooms in the coming years under international brands AC Marriott, Double Tree by Hilton and ibis Styles, Ziarul Financiar reported. CONSTRUCTION -Romanian executives for the May-July 2023 period project rising activity in constructions and retail, in parallel with higher prices…

HOTELS Bucharest hotels’ occupancy rate stood at 62% in the first quarter of 2023, up 33% y-o-y, and just 5% below the 2019 level, placing Romania’s capital city second in the CEE region, after Poland’s capital Warsaw, real estate consultancy Cushman & Wakefield data showed. RESIDENTIAL Studios represent the category most in demand for renting in…