Austrian group Immofinanz made property transactions in Romania representing 18 pct. from the total. On the next positions, with equal shares, situates the South-African investment fund NEPI and the Austrian group CA Immo, with 8 pct. each, according to Mediafax.
RREEF (Deutsche Bank) situates in the forth position, with 7 pct., followed by the Italian company IGD (4 pct.),British investment fund Argo Real Estate (3 pct.) and Globalworth (investments vehicle founded by the Greek businessman Ioannis Papalekas) – 2 pct.
Immofinanz earned its leader position as all its acquisitions were made in the "boom" period, with properties bought at higher prices the last four years. In the last years, NEPI and Globalworth were the main players on the real estate market in Romania.
The real estate investment volume in Romania settled in the last years, after the rush from 2004 and 2007 (according to The Advisers/Frank Knight data in 2007 a maximum was reached with properties transactions value of EUR 1.544 billion). In 2009, the transactions value went dramatically down to EUR 63 million, and starting with 2011 the market registered a level varying around EUR 200 million annually.
The study mentions that in the analyzed period not only the investment volume changed, but also the investors’ preferences. Therefore, if in 2007-2008 the largest part of the transactions targeted the commercial centres, currently the investors changed the focus towards the well placed office buildings.
Totally in the last ten years, the commercial centres transactions represented 46 pct. as value and the offices 35 pct. The industrial spaces registered 5 pct. from the total, and the mixed-use projects 12 pct.
Considering the real estate offer, the study says that on all the segments of the market there are available properties for sale. On the office market, Piata Victoriei and Calea Floreasca-Barbu Vacarescu stay the favourite areas of the investors. Outside Bucharest, the commercial properties in big cities, such as Timisoara, Iasi and Cluj Napoca started to attire the interest for potential investments.
"Despite the fact that the lack of finance stays the main barrier for the investments, new investors are looking more information about Romania, partly as they consider that the yields diminution is nearing the closure on mature markets and CEE’s. Currently most of the investors are interested in high yields, distressed assets and average to small properties", the study also tells. (source: wall-street.ro)
