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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Real estate investors in Romania remain optimistic, says Colliers report

Investment volumes on the Romanian real estate market reached nearly EUR 820 million in the first three quarters of the year, up by 45% versus the same period of 2019, and 27% more than in all 2019, according to real estate consultancy firm Colliers International Romania. Office assets accounting over 90% of volumes.

“While there is some inertia at play, it is encouraging that the year’s biggest deals – the sale of the NEPI Rockcastle office portfolio for over EUR 300 mln to AFI Europe and the sale of Floreasca Park to the Fosun/Zeus joint venture for over EUR 100 mln – were both finalized in August, in spite of the pandemic,” Colliers said in a press release.

At the same time, almost two thirds (62%) of real estate investors confirm interest for acquisitions of new projects, both in Bucharest and regional cities, and are currently ready to buy in more favorable conditions, given the new economic context generated by the Covid-19 epidemics, according to a survey conducted by Colliers International among nearly 50 real estate companies representing investment funds, developers, asset managers and banks.

“Industrial and logistics assets are coming into the spotlight for investors, with optimism increasing since April. The improved perception about industrial schemes is even more visible when referencing purchase prices, with 51% of respondents expecting to see higher purchase prices for these assets over the next year, up from 16% in April,” said Mihai Patrulescu, Senior Associate Investment Services at Colliers International.

Meanwhile, the sentiment regarding hotels and retail over the next 12 months is cloudy, and the continuation of the medical crisis maintains a level of re-adjustment on the office market, according to Patrulescu.

However, the share of market participants looking to expand their portfolios both in Bucharest and regional cities far outweighs that of those seeking an exit, according to the Colliers report.

(Photo: Lovelyday12/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Real estate investors in Romania remain optimistic, says Colliers report

Investment volumes on the Romanian real estate market reached nearly EUR 820 million in the first three quarters of the year, up by 45% versus the same period of 2019, and 27% more than in all 2019, according to real estate consultancy firm Colliers International Romania. Office assets accounting over 90% of volumes.

“While there is some inertia at play, it is encouraging that the year’s biggest deals – the sale of the NEPI Rockcastle office portfolio for over EUR 300 mln to AFI Europe and the sale of Floreasca Park to the Fosun/Zeus joint venture for over EUR 100 mln – were both finalized in August, in spite of the pandemic,” Colliers said in a press release.

At the same time, almost two thirds (62%) of real estate investors confirm interest for acquisitions of new projects, both in Bucharest and regional cities, and are currently ready to buy in more favorable conditions, given the new economic context generated by the Covid-19 epidemics, according to a survey conducted by Colliers International among nearly 50 real estate companies representing investment funds, developers, asset managers and banks.

“Industrial and logistics assets are coming into the spotlight for investors, with optimism increasing since April. The improved perception about industrial schemes is even more visible when referencing purchase prices, with 51% of respondents expecting to see higher purchase prices for these assets over the next year, up from 16% in April,” said Mihai Patrulescu, Senior Associate Investment Services at Colliers International.

Meanwhile, the sentiment regarding hotels and retail over the next 12 months is cloudy, and the continuation of the medical crisis maintains a level of re-adjustment on the office market, according to Patrulescu.

However, the share of market participants looking to expand their portfolios both in Bucharest and regional cities far outweighs that of those seeking an exit, according to the Colliers report.

(Photo: Lovelyday12/ Dreamstime)

[email protected]

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