CONSTRUCTION
Net investments in Romania’s economy stood at RON118 billion in January-September 2023, up 14.4% on an annual basis, with new construction works accounting for 62.6% and purchases of machinery, including transport vehicles, for 29.3%, data from the National Institute of Statistics showed showed on Monday (Dec. 11).
OFFICE
-By the close of Q3 2023, the total area of modern offices in Bucharest increased to 3.42 million sqm. During this period, 32,500 sqm of office space was completed. In the next two years, the capital cities of Central European countries (Prague, Bratislava, Budapest, and Bucharest) could encounter an office shortage due to delayed construction caused by an uncertain economic outlook combined with high costs and slowing demand, according to iO Partners.
-The average office transaction size during January-September 2023 has been of 1,810 sq. m, the highest average registered in the last 4 years and close to the record level of 1,900 sq. m set in 2019, according to data from the Cushman & Wakefield Echinox.
INDUSTRIAL
CBRE’s latest research reveal that the Romanian industrial and logistics monthly rent average soared to €4.50 per sq m in Q3 2023 underlining a 15.38% growth on an annual basis. In the same quarter, the industrial sector amassed an investment volume of €9.8M, adding up to €70M for the year to date.
