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Residential sector led with the highest volume of transactions in Romanian land market 2024

Similar to 2023, last year the Romanian land market totalled around €450 million, from what the residential sector generated the highest volume of transactions, as Colliers Romania.assumes.

How Will Romania's Real Estate Market Look in 2025 - A Colliers Analysis

The Romanian economy and real estate market are entering 2025 with positive long-term prospects but also significant challenges for the year ahead, according to Colliers consultants in the report "Top 10 Predictions for the Romanian Real Estate Market in 2025."

Thinslices has relocated its headquarters to the United Business Center 2 (UBC 2) building

Thinslices, a tech company founded in Iași with operations in Berlin, Lisbon, and London, has relocated its headquarters to the United Business Center 2 (UBC 2) building, renting an area of approximately 500 square meters.

Tenants continue to dominate the office market, although in some areas of Bucharest, there remains a trend toward a more landlord-friendly market

Trading activity in the office market slowed in the third quarter of this year, mirroring trends from 2021-2022. Total demand for modern leased office space in Bucharest dropped by 25% to 236,000 square meters compared to the same period in 2023. New lease demand reached 82,000 square meters, reflecting an 11% decrease year-on-year, according to Colliers data.

Office market: About half of leases signed in Bucharest during first half of this year were renewals

Leasing activity in the Bucharest office market in the first half of 2024 saw new demand rise by 7% year-on-year, reaching 64,000 square meters, while total demand slightly decreased to 160,000 square meters, according to Colliers’ report on real estate market developments for the first half of the year.

Colliers' Construction division appointed Project Manager by Infineon Technologies for its new headquarters

German giant Infineon Technologies, a global semiconductor leader in power systems and IoT, has appointed Colliers as the project manager for its new Romanian headquarters, which will be built in the Dimitrie Pompeiu area of Bucharest by the leading real estate investor and developer One United Properties.

Local Council greenlights EUR 0.5 bln large-scale urban reconversion project in Cluj-Napoca

The Zonal Urban Plan for the conversion of the former Carbochim industrial platform and the restructuring of the 1 Mai Square area was recently approved by the Cluj-Napoca Local Council. The investment of the IULIUS & Atterbury Europe companies, estimated at over half a billion euros, represents an effort to capitalize on an industrial area and transform it into a pole of urban attractiveness with multiple functions - the largest retail area in Romania (120,000 rentable square meters) , office, culture and new entertainment concepts – , whose anchor will be a large urban garden with access to the Someș river.

The Romanian real estate investment market could reach the 1 billion euro threshold again this year

The first half of 2024 ended with real estate transactions totaling 419 million euros in Romania, which represents a two and a half times increase compared to the volume of the same period last year, according to the Colliers report on the evolution of the real estate market in the first semester of this year. The outlook remains favorable, and with a significant volume of ongoing transactions, including some recent ones where owners want quick completion, reaching the €1 billion mark in 2024 seems an achievable goal, Colliers consultants say.

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