The study included properties with a leasable area of over 3,000-5,000 sq m from all over Romania, delivered last year for their own use or for rent.
The office sector accounts for most of deliveries, with more than 258,700 sqm of leasable property and an estimated value of 465 million euros. In Bucharest, office buildings with 160,300 sqm and a value of 311 millions euro were delivered, and in the province 98,500 sqm, with a value of approximately 150 millions euro.
In the retail segment, properties with a value of more than 328 million euro were delivered nationwide (ie a stock of 264,000 sqm).
The most significant development was recorded in the industrial-logistics segment where the record volume of deliveries nationwide, totaling more than 550,000 square meters, has an estimated value of 290 million euros. The industrial properties delivered to the Bucharest area had the largest share of the total, with an estimated value of over EUR 200 million.
As regards the areas where the most valuable commercial projects were delivered in 2017, Bucharest ranks first, with 54% of the value of properties completed last year at national level (582 million euros).
The capital is followed by the Cluj-Napoca, where the properties delivered in 2017 have an estimated value of 115 million euros and Timisoara with 105 million euros.
In 2017, yields decreased on average by 0.25% for "prime" properties (the most representative of class A), reaching commercial centers and office buildings at 7.0-7.5% in Bucharest and 8.0-8.5% in other major cities. For industrial properties, prime yields range from 8.75-9.25% in the main markets.
"We estimate that the value of commercial, office and industrial properties to be delivered in 2018 will exceed 1.5 billion euros nationwide," says Cristian Negrea. (source: arenaconstruct.ro)
