”The dominant retailers - „big box” type operators- continue to have expansion plans in Bucharest and they will be among the most active buyers in 2016, aiming mainly zones with high residential densities (...) The residential market in Romania stays underdeveloped, and investors will continue to buy plots for long term developments, considering the affordable prices and the growing request for new homes”, shows DTZ.
Regarding the office segment in Bucharest, significant deliveries are scheduled in 2016 and 2017.
”However, as the financing stays restrictive, is possible that part of the projects planned for 2018 to be sold before the construction starts”, the study says.
Last year in Bucharest a total area of 45 ha of lands with commercial destination were transacted, for a total price of EUR 90 million.
The most active buyers who purchased lands for commercial developments were the Swedish and local investors.
According to DTZ, the most interesting acquisitions were performed by players such as IKEA and Skanska: IKEA bought a land in the Eastern side of Bucharest, while Skanska bought two plots in Bucharest, one in Barbu Văcărescu - Floreasca (Northern Bucharest) and on in Politehnică (Western bucharest). Both locations are among the most important office destinations in Bucharest.
Greek and Austrian investors, some of the most active in Romania in the last decade, didn’t have significant acquisitions in 2015.
More than 50 pct of the lands transacted last year were bought for „big box” type retail developments. The lands for residential and industrial/logistics developments represented each 20 pct of the total area of lands transacted in 2015.
Lands for office developments remained the most expensive, with an average acquisition price in Bucharest around EUR 717 per sq. m, compared to the average acquisition price for residential or retail developments plots (EUR 175-200/sq. m ).
Most of the transacted plots were situated in the northern and western Bucharest. In North, lands were bought for office, retail and residential developments, while in West for office, residential and logistics facilities. (source: profit.ro)
