Delivery of non-residential buildings in Romania up 20% in 2018

The total value of commercial, office and industrial properties delivered in 2018 increased by 20% year-on-year to EUR 1.3 billion, according to data centralized by real estate consultancy firm Activ Property Services, quoted by Ziarul Financiar.

Some 38% of the total value of EUR 1.3 billion is the contribution of new office buildings, while industrial spaces accounted for 36% of the total, and commercial spaces (shopping centers, retail parks, big box units) brought 26% of the value.

The analysis took into account properties with a leasable area of over 3,000-5,000 square meters, completed in the past year at national level, built both for rent and own use.

“The positive evolution of the real estate market has led to the delivery of more than 1,425,000 sqm of commercial space, offices and industrial premises last year. The market value of these properties is estimated at more than EUR 1.3 billion, up 21% from the stock value completed in 2017,” said Cristian Negrea, director of the valuation department at Activ Property Services.

The increase was mainly due to the “speculative segment” where deliveries were 63% higher, but also to the decrease in yields, which translates into higher property prices.

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