Developers completed new projects with a leasable area of 572,000 sq. m across the country in 2024, reflecting a 27% growth when compared with 2023, while the total industrial & logistics stock in Romania reached almost 7.6 million sq. m at the end of Q4. The development activity returned to growth during 2024, after a year (2023) which witnessed a 46% y-o-y decrease of the new supply, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
Romania's industrial and logistics space market continued to grow in 2024, with deliveries of approximately 400,000 square meters, bringing the total stock to 7.4 million square meters, according to the annual report published by Colliers. Representatives of the real estate consultancy say that the current stock of industrial and logistics spaces, estimated at 8 million square meters by the end of 2025, remains modest compared to countries such as Poland, which has a volume four times larger.
Investors are optimistic when it comes to their Romanian portfolios over the next 12 months, a clear improvement compared with the previous year. According to the 3rd edition of the Cushman & Wakefield Echinox “Real Estate Investors Sentiment Barometer” conducted among the main real estate investors and developers in Romania, 64% of respondents forecast an increase in portfolio values, 30% expect stagnation, while only 6% anticipate a decline.
The industrial real estate market in Central and Eastern Europe (CEE) recorded different developments from country to country in Q3 2024. In Romania, the industrial market reached a total stock of 7.56 million sqm, with 208,300 sqm of new deliveries, shows a report by iO Partners.
Companies leased 410,500 sq. m of industrial & logistics spaces in H1, a total which reflects a 25% drop when compared with H1 2023. However, the new demand had a share of 52% in the overall leasing volume in the same period (213,500 sq. m), more than double vs. the new supply, according to data from the Cushman & Wakefield Echinox real estate consultancy company.
The Central and Eastern European (CEE) industrial real estate market slowed down in the first quarter of 2024, following a period of sustained growth and record activity in 2021 and 2022, a study by iO Partners shows.
Romania’s real estate market prepares to end a “decent” year, with intense activity in the industrial sector, but also with a decline in economic dynamic and a significant decrease in investment market activity, as Colliers consultants predicted at the beginning of the year, in their report “Top 10 predictions 2023”.
The first three quarters of 2023 look good for the industrial & logistics real estate sector. Overall, total leasing demand of 550,000 square meters in the Q1-Q3 2023 period was largely comparable to last year’s level, according to data from Colliers, with the note that this result only includes leasing deals part of the public domain, i.e. deals part of the local real estate forum or those reported in other public documents, like financial reports of companies or media reports.
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