The immediate impact of COVID-19 pandemic in the real estate market will be felt during the second quarter of the year while on the medium and long term the focus will be on health and safety measures as well as on technology, these are the main take away from the Romania Call Flash, organized by CBRE, the leader of the real estate consultancy market.
Vox Property Group, the developer and owner of Vox Technology Park office building from Timisoara, launched a comprehensive campaign meant to implement preventive and security measures, taking into consideration the returning of the tenants, along with the ending of the national State of Emergency on May 15th.
Ten years after the credit crisis, the European Union demonstrates that it has learned very little on how to unite and decisively take pan-EU measures to tackle crisis and support recovery.
A recent study shows that increasing the humidity in indoor spaces can reduce the risk of the virus spreading to hospitals and other buildings at low cost and without producing negative effects.
While the current situation imposed by the COVID-19 pandemic has delayed various investments, CBRE’s Building Consultancy team, leader in the real estate consultancy market, continues to manage ongoing projects of over 80 million euro invested in the medical, production and IT&C fields in different areas of Romania.
The state of emergency imposed by the current pandemic has led to almost total vacancy of office spaces, within the context of many of the employees working from home. The landlords want to lower service charge levels for this period and continue to provide the necessary services to maintain the buildings in optimal conditions, according to the real estate consultancy company CBRE, which manages a portfolio of over 7 million square meters of offices, commercial centers and industrial properties in Central and Eastern Europe.
Protecting office, production and logistics spaces and those working in these spaces is important. In this period of increased risk, here are some recommendations that you should consider to prevent the spread of viruses and bacteria in areas still in operation:
The mergers and acquisitions market (M&A) recorded 19 transactions in Romania in the first quarter of the year, four more compared to the same period in 2019. According to Deloitte’s estimates, the total value of the market, including transactions whose values were not disclosed, was between EUR 600 and 750 million in Q1 2020 (EUR 200-300 million in Q1 2019), while the disclosed transactions accounted for EUR 337 million (EUR 120 million in Q1 2019).
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