The three most important transactions in the first semester were signed by Austrian investors who expanded their presence on the Bucharest office market by acquiring the Campus 6.2 & 6.3 (S Immo), The Light One (Uniqa RE) and Bucharest Financial Plaza (Immofinanz) buildings. The three transactions, with a total value of around 189 million euros, represent a 63% share of the total volume transacted in the first half of the year.

The next asset class preferred by investors is represented by industrial and logistics spaces, a sector in which CTP and Globalworth have expanded their portfolios by acquiring buildings in the Western part of the country, while the Swedish group Oresa Ventures purchased the Solo Parc project, the largest logistic park in Iasi. In total, the industrial and logistics segment attracted 24% of the capital.

The hotel sector recorded two transactions in Bucharest with a total value of around 21 million euros (7%), the most important being the sale of the Ramada Majestic hotel located on Calea Victoriei which attracted a new investor on the local market, namely the Swiss company Visionapartments. The retail sector was the least active in H1 2021, with only individual commercial units being part of transactions. In total, 24 income-generating properties with an average value of 12 million euros were transacted in the first semester.

Mihnea Șerbănescu, General Manager, Cushman & Wakefield Echinox: “Market liquidity held impressively throughout the most difficult phases of the pandemic in 2020 and has also stayed quite healthy in H1 2021, as Romania still has some of the most attractive yields in the region. Looking ahead, the yields are forecasted to remain stable this year for standard properties, while a compression is expected in regards to premium properties in landmark locations which attract a larger pool of potential buyers.”