Logistic property stock in Bucharest up 10 times in 13 years

The stock of industrial and logistics spaces in Bucharest has increased about ten times between 2004 and 2017, to almost 1.2 million square meters, according to an analysis by real estate consultancy firm C&W Echinox. The evolution was mainly supported by the positive evolutions in consumption and purchasing power. The stock of industrial and logistics spaces will increase by over 250,000 sqm in Bucharest this year, based on the estimates of C&W Echinox. In 2004, Bucharest saw the opening of its second shopping center Plaza Romania, located in Drumul Taberei. Modern retailers such as Carrefour or Billa were only operating a few stores each. The average net salary was around EUR 200 in 2004, compared to almost EUR 700 now, according to C&W Echinox. The stock of industrial and logistic spaces gradually increased until 2009, when it reached a level of 900,000 sqm. "In the last three years, starting 2014, the pace of development has resumed, so that the volume of construction reached 200,000 sqm in 2016,” said C&W Echinox senior consultant Rodica Tarcavu. Some 80% of the stock that will be delivered this year is concentrated on the Bucharest - Pitesti highway. This happens despite the fact that some retailers are looking for storage solutions in the northern area of the city. editor@romania-insider.com