Colliers International assessed properties worth EUR 7 bln in Romania in 2011

Colliers International Romania’s valuation department assessed real estate properties worth EUR 7 billion in 2011, up 10 percent over the previous year. “As in previous years, the existing customers of the department had the largest share in the total value of the assessed properties in 2011, namely 85 percent. Numerically, around 30 percent of the contracts signed in 2011 were with new clients,” said Laurentiu Lazar, Manager of the Valuation and Advisory Department, Colliers Romania. Most of the requests recorded in 2011 were made to guarantee loans, and the value of the properties assessed for this purpose was some 50 percent of the total. Also, about 15 percent of Colliers’ contracts signed last year were feasibility studies, market research, and best use studies. The company reported a slight increase in the income from its valuations department last year, and for this year, the results are estimated to remain the same. “In 2011, we increased the team of evaluators and consultants to 15 members, including both juniors and seniors with specific experience in each market segment,” Laurentiu Lazar added. Colliers International is one of the leaders in global real estate services, with some 480 offices opened in 61 countries. Irina Popescu, irina.popescu@romania-insider.com (photo source: Colliers)