.REAL ESTATE INDEX
The average price of old three-room apartments in Romania’s capital Bucharest stood at EUR107,300 in May 2024, up from the EUR106,400 in April 2024, the real estate index compiled by Ziarul Financiar and real estate consultancy SVN Romania showed. The price increased by 4% over May 2023, compared with 3% in April 2024 vs April 2023.
.INFRASTRUCTURE
Romanian authorities have signed financing projects for the new M4 subway line connecting the North Railway Station with Progress Railway Station in Bucharest and the M6 line connecting central Bucharest to the Henri Coanda International Airport.
.INDUSTRIAL
Nestor Nestor Diculescu Kingston Petersen (NNDKP) attorneys and consultants have assisted CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), in acquiring the logistics portfolio fully owned by Globalworth, the largest office investor in CEE, with leading positions in Romania and Poland. The portfolio, comprised of 270,000 sqm GLA and 30ha landbank, includes six industrial parks and other complementary facilities in six key locations in Romania, including Bucharest, Arad, Pitești, Oradea and Timișoara.
.ECONOMY
-Romania’s hourly labor costs adjusted to the number of working days increased by 16.45% in the first quarter of 2024 on an annual basis, data from the National Institute of Statistics showed. The most significant increases of the hourly labour cost (working days adjusted) were found in education (33.30%), accommodation and food service activities (27.06%), transportation and storage (20.96%), respectively in construction (20.49%).
-Romania’s foreign exchange reserves stood at EUR 65.07 billion on 31 May 2024, compared to EUR 62.51 billion on 30 April 2024, according to figures released by the National Bank of Romania. The gold stock remained steady at 103.6 tonnes. However, following the change in the international price of gold, its value amounted to EUR 7,197 million.
