Real estate deals in Romania may reach EUR 1.5 bln next year

The investments on Romania’s real estate market are estimated at EUR 600-700 million this year, but they may double next year, according to real estate consultancy firm Colliers International Romania. The transactions with commercial real estate properties in the last two years have brought two new players on the local market, and the transactional volumes began to go up, reports local Economica.net. The more recent player on the local market is Czech investment fund PPF Real Estate, which bought the office building Metropolis, owned by the Austrian group Soravia, for EUR 50 million. Last year, most deals were carried out on the industrial segment, where Dutch developer CTP was the most active buyer. “The decrease in investment yields in the region, coupled with the decreasing cost of financing in Romania, as well as the higher availability of financing from banks, all these pieces will connect and we have the premises to reach next year the volume from 2008, namely EUR 1.5 billion,” said Robert Miklo, associate director within Colliers International Romania. editor@romania-insider.com