The hybrid working system, which combines remote work with in-office presence for the entire team, has remained in practice in many companies even after the end of the pandemic, but the number of employees returning to the office is growing, note consultants from the Asset Services department of Colliers Romania, which manages about 640,000 square meters of real estate, nearly 600,000 square meters of which are offices.
The first quarter of 2024 ended with real estate investments in Romania totalling 202 million euros, up 69 percent compared to the first three months of 2023, with transactions in the retail segment accounting for around two-thirds of the volume, according to a Colliers report. Compared to the other five major economies (Bulgaria, Czech Republic, Hungary, Poland and Slovakia) in Central and Eastern Europe (CEE), Romania was the best performer in a context where market activity in the region was soft and transaction volumes reached one of the lowest levels in a decade.
2024 looks to be a very good year for strategic acquisitions in the land market, given the favorable long-term outlook.
Activity in the land market has slowed over the past year, but investor enthusiasm for Romania’s long-term potential remains stable. Demand for strategic land plots, which now can be secured at more interesting terms than in a highly active market, is growing, Colliers Consultants note. This trend is attracting the interest of major developers looking to strengthen their position in the property market.
Environmental, social, and governance (ESG) principles are no longer just a trend or a buzzword, but rather becoming the norm in the Romanian real estate market.
The Romanian investment market recorded transactions of around 476 million euros last year, down by more than half over 2022’s cycle high of 1.25 billion euros, according to the 2023 Annual Report released by Colliers.
ALLCLOUD, a US-based global leader in cloud-based services, has selected River Plaza, a modern office building in Romania’s capital city, in a strategic real estate transaction facilitated in a highly efficient manner by CBRE Romania. The collaboration of all parties involved resulted into a lease of a fully fitted out workspace, with the flexibility to accommodate a potential future expansion of the technology focused professional services company.
Oana Adjudeanu, consultant within the property management department of Colliers International Romania, has obtained LEED Accredited Professional certificate on Existing Buildings Operations and Maintenance (LEED AP O+M).
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