BUCHAREST (Romania), August 4 (SeeNews) - The volume of real estate investments in Romania rose by an annual 6% in the first half of 2022, reaching 323 million euro ($329 million), real estate consultants CBRE Romania said on Thursday.
Some 79% of the year-to-date volume was concluded during the second quarter of the year, CBRE said in its Romania Real Estate Market Outlook H1 2022 report.
Ten of the 14 transactions registered during January-June involved real estate properties located in Bucharest and claimed the largest share of the total investment volume. Only 20% of the total investment was directed towards regional centres out of which Cluj-Napoca emerged as the most sought-after location.
Most transactions, 20%, concerned office properties, while industrial and retail properties claim 15% and 12% from the total volume. Hotel and mixed-use properties had a joint share of 11% in the total number of transactions during the first half of 2022.
The largest transaction of the year to date was signed in the second quarter, with the purchase of Expo Business Park, a 41,500 sq m office development in Bucharest, by Austrian real estate developer S Immo from Prague-based Portland Trust.
"Transactions with class A rated office properties in Bucharest and main regional cities of the country, boost our confidence that investment volume could reach values similar with the ones registered in pre-pandemic years," CBRE Romania head of investment properties Mihai Patrulescu said.
"Considering the spectacular results obtained by the industrial sector in terms of new supply, leasing and transactional activity, we believe that an important share of the year’s transactional volume will be claimed by industrial properties."
Commercial real estate investment and services company Coldwell Banker Richard Ellis (CBRE) is headquartered in Dallas, Texas and employs over 105,000. In Romania, CBRE offers a wide range of integrated services, including transactions, coordination and project management, design and build services, valuation, property rental, strategic consulting, property sales as well as mortgage and development services.