RESIDENTIAL
Brasov is the city where most Romanians would like to move to and it is, at the same time, the city that most want to visit. These are the findings of a study carried out at the request of “Visual Destinations”. Brasov is located in the central part of the country, about 166 km north of Bucharest and 380 km from the Black Sea. It is surrounded by the Southern Carpathians and is part of the historical region of Transylvania.
INDUSTRIAL
Investment in production machinery and military equipment in Romania surged by 80% in 2023 well above the EU average of 30%, totaling EUR30 billion, or nearly 9% of the GDP, according to Eurostat data analyzed by Colliers. These figures also reflect the dynamics of industrial and logistics space rentals, the property consultant said. The first three months of 2024 saw a slow activity in the industrial and logistics (I&L) real estate sector, with leases of around 150,000 square meters, a significant drop from 270,000 square meters in the same period of 2023. Bucharest accounted for just over half (56 percent) of all rental transactions in the first quarter of the year. says Victor Cosconel, Head of Office & Industrial Agencies at Colliers. The Colliers director predicts that, despite the drop in activity in the first three months, 2024 will end with a decent result.
RETAIL
The French DIY chain Leroy Merlin which now has 21 stores in Romania and is second largest player on this market locally, has leased 9,000 square meters in Pitesti Shopping Park, developed by Square 7 Properties, and will open its first store in the locality this autumn.
INFRASTRUCTURE
Romanian authorities inaugurated the construction site of the first subway line in Cluj-Napoca, the second-most populous city in Romania, on Wednesday, June 5. When operational in 2031, it will become Romania’s second mass transit network after the Bucharest Metro. Cluj-Napoca or simply Cluj is the second-most populous city in Romania and the seat of Cluj County in the northwestern part of the country.
