According to a study conducted by Activ Property Services, out of a total of 1.02 million sq m of nationally estimated deliveries, more than 540,000 sqm of industrial premises have already been delivered, with the remaining projects being accounted for at an advanced stage of construction.
At the same time, the new stock for this year includes speculative project in a total area of 765,000 sqm, respectively buildings developed for own use that exceed 255,000 sqm. The speculative deliveries announced this year (765,000 sq m) exceed the sum of deliveries during the economic crisis (2009 - 2013), according to the market surveyors.
"The year 2018 is thus announced as a record year of the industrial market, the peak of activity achieved by consecutive increases of 40-50% in each of the last three years. The development activity resumed starting in 2015 amid the rising demand, particularly from the logistics sector, with accelerated growth last year leading to the delivery of a new stock of 593,000 sq m. Economic growth and accelerated consumer spending led to rising volumes of demand, up 70% in the past year when a record 730,000 sqm of major rental transactions nationwide", the study shows.
In the first nine months of this year, the major rental transactions have totalled 350,000 sqm, of which 60% only in the Bucharest area. Important rentals were also recorded in Pitesti, Craiova, Cluj-Napoca and for the first time in Buzau, where Ursus Breweries rented 20,000 sqm. Most of the surface (over 90%) was leased for warehousing and logistics.
With regard to rental rates, figures show slightly rising levels, Class A modern spaces with average levels ranging between 3.5 and 4 euro / sq m / month in major major industrial markets.
The deliveries of new spaces will continue at an alert pace in 2019, when more than 700,000 square meters of new premises have potential for completion, out of which over 390,000 square meters are already under construction. (source: agerpres.ro)
