"The average value of transactions increased significantly compared to last year and we estimate that 2017 will continue to be a very good year for the investment market. The high volume of transactions demonstrates that the market becomes more liquid and investors are interested in portfolio diversification. We also see a trend of international investors to create partnerships with local developers. This dynamism will lead to a total investment volume of 1 billion Euros this year, marking the best year post-crisis for this market", said Mihai Pătrulescu, director of strategic analysis at Colliers International.
Market specialists estimate that last year Romania recorded EUR 850-900 million in real estate transactions, up 30% over 2015.
About 150,000 square meters were delivered to the industrial space market in Bucharest, especially in the western and northern areas and near the A1 motorway. Demand came from the e-commerce, auto and FMCG sectors as well as IT and logistics companies that rented space in the main industrial parks: Network One Distribution - 30,000 sqm in CTPark Bucharest West, KLG - 9,755 sqm in CTPark Bucharest West , Ikea and Heineken - 8000 sqm and 6000 sqm respectively in LogiQ Mogosoaia.
"Taking into consideration the activity on the industrial market so far, we can expect deliveries of about 250,000 square meters in Bucharest and another 100,000 square meters in the rest of the country by the end of this year. Developers are increasingly focusing on developing locations such as Timisoara, Sibiu, Pitesti, Cluj-Napoca, Ramnicu Valcea, Brasov or Roman", Patrulescu added.
As far as the stock of office space is concerned, according to Colliers' analysis, it reached 2.2 million square meters in Bucharest after delivering 50,000 square meters, of which 30,000 square meters represent the first two buildings of the Timpuri Noi Square project, developed by Vastint.
The total rented area amounted to 170,000 sqm and the new demand, mainly from IT and BPO / SCC, exceeded the 85,000 sq m threshold. The most requested areas were Floreasca-Barbu Văcărescu (45,000 sq m rented), Victoriei Square and Centre-West. (source: news.ro)
