Real estate transactions in Bucharest to exceed EUR 800 mln this year

Real estate transactions with office buildings, logistics spaces, and the investment market in Bucharest will exceed EUR 800 million this year, according to real estate consultancy firm Colliers International, which has brokered deals worth some EUR 350 million. Outsourcing services continue to be the most powerful pillar of the office sector, as Romania becomes more visible for companies in the IT or services area. Over 60,000 people currently work in the outsourcing sector, and the number should grow up to 150,000 employees in the next five years. The most dynamic area for office space remains Floreasca-Barbu Vacarescu, which could reach a total stock of 500,000 sqm of office space by 2020, as 155,000 sqm are to be delivered in the following years. The yield on the office segment in Bucharest continues to be among the highest of all Central and Eastern European capitals, standing at some 7.5% per year. editor@romania-insider.com