Romanian Real Estate News – Tuesday 08/11/2022

Romanian Real Estate News


-Almost all of Romania’s airports are carrying out or are set to start expansion and overhauling works, Ziarul Financiar reported with the total value of investments in local airports topping EUR600 million.

-The general mayor of Bucharest, Nicuşor Dan, announced that the Doamna Ghica Passage will be inaugurated in the summer of next year, and the director of the Metropolitan Buildings Trust, Cristian Hiver, estimates that the traffic restrictions will last approximately three months, Agerpres reported.


Casa Mița Biciclista (House of Mița the cyclist), a famous historical building featuring neo baroque style with Art Nouveau influences, in the center of Bucharest, will reopen its doors to the public this month, after 80 years, according to the Romanian Association for Culture, Education and Normality.


After four quarters of solid performance, activity in the office space market slowed down in the third quarter of this year, as per a Colliers analysis.


Bucharest-listed One United Properties, the largest green investor and developer of residential, mixed-use, and office real estate in Romania, has obtained the building permit for One Lake Club. The large-scale premium development with over 600 apartments, is located on the shores of Lake Tei, in northern Bucharest. The gross development value (GDV) stands at 219.4 million euro, and the compound is estimated to be completed during 2025.


The National Bank of Romania raised its key monetary policy rate by 50bps to 6.75% on Tuesday, less than market expectations of a 75bps hike. The decision marked the ninth consecutive rate increase to push borrowing costs to their highest since February 2010.