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Articles - piata imobiliara

Romanian real estate market ends the first half of the year with a favorable outlook

Large infrastructure investments, significant salary growth above inflation, a stable external economic context, and central banks’ victory in combating inflation are helping the Romanian real estate market maintain a favorable outlook. However, results are generally mixed, according to Colliers Romania experts in their market report for the first half of the year, set to be released at the end of the month.

Real estate investment market slowed down its activity in 2023, decreasing by more than half

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.

Challenging times for homebuilders and real estate companies

Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices in commodities and, first and foremost, the interest rate environment and accessibility of credit, they are currently under strain. And things are unlikely to get any better in 2024, according to a survey by Coface.

Top 10 predictions for the Romanian real estate market in 2024

Romania’s real estate market remains a sector with high growth potential, even if the pace could be slower in 2024 than before the pandemic, Colliers consultants predict in ”Top 10 Predictions Romania 2024” report.

Romanian Commercial Real Estate Market: A Dip in Q3, But Optimism Ahead

CBRE launched its traditional end of quarter research snapshots of the local commercial real estate market, analysing the status of the investment, office, industrial & logistics and retail sectors.

The number of sold properties increased in H1 2023, but the average price per asset decreased by more than 50%

The number of sold income – generating real estate properties (office, retail, industrial & logistics spaces and hotels) during the first half of 2023 increased by 30% when compared with the same period of last year, but the average price per property decreased from €24 million to €11 million. Therefore, the transactional volume has seen an y-o-y decline of 43%, to a level of €181 million, according to data from the Cushman & Wakefield Echinox real estate consultancy company.

Proposed fiscal measures may cause RON 7 billion annual revenue loss in Real Estate sector

In a position letter submitted to the Romanian Government, the Association of Real Estate Investors in Romania (AREI) estimates that the proposed fiscal measures targeting the Real Estate and Constructions industry could lead to RON 7 billion in losses from the revenues generated annually to the state budget, the equivalent of a 10-12%decrease in business volume.

Romanian real estate market concludes a favorable first half of the year

Consistent with the economic deceleration, the Romanian real estate market is displaying signs of moderation across various sectors, although the overall performance remains robust, as outlined by experts from Colliers Romania in their first-half outlook.

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