The local real estate market remains dinamic and attractive for investors. The total value of real estate deals in Romania reached EUR 530 million in the first half of this year, up 43 percent from the same period in 2016, the market being supported mainly by commercial spaces transactions, C&W Echinox special report informs.
During the H1 of 2017, there were six transactions, involving portfolios of retail space, according to the report.
It’s about the 50 percent stake bought by the Atterbury group in four Iulius Mall shopping centers, the acquisitions of the Mitiska group (50 percent of a portfolio of eight retail parks, respectively other 11 retail parks), the sale of the last four spaces where Real hypermarkets were operating, the sale of Praktiker spaces in Ploiesti and Constanta, respectively the sale of the XXL Megadiscount spaces in Sibiu and Galati.
This evolution came amid a good evolution of the economy and the increase in consumption. The Romanian economy registered in the first six months of the year an increase of 5.8 percent compared to the same period last year. Almost a quarter of real estate deals took place in Bucharest, according to C & W Echinox.
The real estate market in Bucharest attracted only 24 percent of the total volume of investments, mainly in office buildings such as Green Court C, Polona Business Center, ART Business Center 7 or Cascade Offices.
Except for Bucharest and besides the retail stores, there have been traded logistic and industrial spaces around Sibiu and Pitesti, the report reads.
“Investors’ interest in real estate assets in Romania will add more liquidity to the market”,” according to Tim Wilkinson, C & W Echinox partner.