“INDUSTRIAL”
Romania’s real estate market prepares to end a “decent” year, with intense activity in the industrial sector, but also with a drop in economic dynamic and a significant fall in investment market activity, Ziarul Financiar reported citing Colliers consultants who predicted this at the beginning of 2023, in their report “Top 10 predictions 2023”.
“RESIDENTIAL”
Bucharest was recently ranked 111th in the Quality of Living 2023 ranking for expats in the Mercer – Quality of Living study evaluating living conditions in over 450 cities worldwide. Living conditions are analyzed based on 39 factors, grouped into 10 categories: political and social environment, economic environment, socio-cultural environment, medical and health considerations, schools and education, public services and transportation, recreation, consumer goods, housing, and natural environment.
“HOTEL”
The former BCR Palace building, which served as the central headquarters of Banca Comercială Română, located in University Square in downtown Bucharest, is set to become a 5-star hotel and undergo a transformation that will that is expected to be completed by the end of 2027, Newsweek.ro reported. The luxury hotel will have a total of approximately 157 rooms, spread over three floors and an attic.
