Colliers: Lower real estate deals in Romania, but perspectives remain good
The total value of real estate deals in Romania reached nearly EUR 290 million in the first six months of 2021, down by 29% compared with the first half of 2020, according to a Colliers report. Office assets generated about two-thirds of the total volume.
Despite the slow first half, Colliers consultants believe that the market fundamentals remain strong. Healthy transaction levels and confidence in the banks’ ability to increase their lending to the economy in 2021 encourage existing or new potential interested investors to prospect Romania.
“2021 may look like a somewhat soft year in terms of overall volumes compared to some of the previous years, but as they say, one must not judge a book by its cover and a period solely by the deals closed. In terms of investor interest and favourable moves to core asset prices, it is not at all a bad year, on the contrary. There are also quite a few large deals in various stages presently,” said Anca Merdescu, Associate Director Investment Services at Colliers.
Three office deals in Bucharest accounted for half of the transaction value in the first half: the sale of the Campus 6.2 and 6.3 office buildings by Skanska to S IMMO for EUR 97 mln, the acquisition of The Light One office building by Uniqua Real Estate for EUR 54 mln, and Immofinanz’s purchase of the Bucharest Financial Plaza for EUR 36 mln.
After the end of the first semester, Adventum Group took over Hermes Business Campus from Belgian group Atenor for about EUR 150 mln, the largest deal signed this year.
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