There were only five transactions with a value of more than EUR 10 million in the first half of the year on the Romanian real estate market and no more than two similar deals are expected for the third quarter of the year, according to real estate consultancy firm JLL Romania.
“In many cases the negotiation and due diligence period has been extended beyond expectations, which could mean that some of them will materialize next year,” commented Andrei Vacaru, Head of Capital Markets JLL Romania, explaining that the owners’ price expectations have increased, widening the gap to the buyers’ expectations.
Admittedly, it is almost impossible to estimate whether the figure of nearly EUR 1 billion, representing the value of real estate transactions last year, will be repeated or whether it will be lower or higher, Economica.net concluded based on the insights provided by JLL. During the first six months of the year, the volume of transactions was EUR 410 million, in line with the activity on the market last year.
The players in the real estate market keep their moderate optimism. Although things are not great when it comes to the value and number of real estate transactions, the market fundamentals are quite solid and there are no signs of overheating, concluded Vacaru.
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The value of investment deals on the Romanian real estate market in the first half of 2019 amounted to approximately EUR...