Still, the outlook is uncertain since several large big-ticket items have either been frozen or fell through. On the opposite pole, the local land market continues to see deals closing and significant interest.

2020 was expected to be the best year in the post-crisis cycle for the real estate investment market in Romania, Colliers International consultants say, but the coronavirus pandemic context slowed its performance in the first half of the year. At the same time, several large transactions, in excess of 100 million euro, including one that would have set a record for the local market in terms of size, have been postponed in the current context or have even been cancelled. 

“The predictability of revenue streams remains the biggest issue over the short term for offices and hotels in particular. Nevertheless, there is now more capital than ever due to liquidity injections from central banks and fiscal programs from governments. Consequently, there is a strong case that investment activity will snap back once occupancy returns around normal levels”, explains Mihai Pătrulescu, Senior Associate Investment Services at Colliers International. (source: Colliers)