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…
Read MoreRomanian Real Estate News 10/10/24
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…
Read MoreRomanian Real Estate News 02/10/24
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…
Read MoreRomanian Real Estate News 25/09/24
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 MoreRomanian Real Estate News 17/09/24
RESIDENTIAL 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…
Read MoreRomanian Real Estate News 11/09/24
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…
Read MoreRomanian Real Estate News 04/09/24
RESIDENTIAL Bucharest is the most accessible capital for renters in Eastern Europe, while Romania ranks 13th out of 31 European countries (the 27 EU member states, plus Great Britain, Norway, Switzerland and Iceland) in this regard, according to the latest data from Storia, the real estate platform of OLX. With an average net salary of…
Read MoreRomanian Real Estate News 28/08/24
COMMERCIAL -The ranking of real estate investors in the local commercial sector is led by Romanians in the January-August 2024 period, who acquired 12 properties, with prices ranging between EUR1.4 million and 44.7 million, research by Fortim Trusted Advisors reveals. However, in terms of total volume, Romanians rank third, with commercial real estate (yielding rental…
Read MoreRomanian Real Estate News 23/08/24
HOTEL Between 2024 and 2025 Bucharest will witness the strongest increase in new hotel spaces among Central and Eastern Europe (CEE) capitals (Bucharest, Warsaw, Prague, Bratislava, Budapest, and Sofia), with an advance of around 5.8%, as around 2,400 rooms will be delivered, a rate that tops the CEE-6 average growth of 3.2%, a new analysis…
Read MoreRomanian Real Estate News 16/08/24
RESIDENTIAL -Romania saw 57,021 real estate deals last month, 11,303 more than in June 2024 and 6,290 more than in July 2023, according to data provided by the National Agency for Cadastre and Real Estate Advertising (ANCPI). In Bucharest, 19% more homes were sold in July 2024 compared to the same month a year ago.…
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