RESIDENTIAL
In the third quarter of 2023, a total 17,916 housing units were put into use in Romania, 2,307 fewer units than in the same period of 2022, provisional data from the National Institute of Statistics (INS) showed on Monday (Dec. 11).
LOGISTICS
Industrial and logistics projects accounting for more than half a million sq. m are currently under construction in Romania and due to be delivered by the end of 2024, 60% of which being already pre-leased, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
CONSTRUCTION
-Romanian authorities issued 3,002 residential building permits in October 2023, down 2.6% m-o-m and 8.8% fewer y-o-y, INS data showed.
-Over 70% of real estate developers in Romania present a major insolvency risk amid rising challenges generated by falling real estate sales and hiked taxes, a new analysis by consulting firm Frames reveals.
HOSPITALITY
Kempinski, Europe’s oldest luxury hotel group, will be opening its first hotel in Romania, under the Kempinski brand, a five-star unit in the popular mountain town of Poiana Brașov in the Transylvania region, based on a partnership concluded with Rock Development Holding, one of the most active real estate developers on the Bucharest residential market.
