ARTICLES LABELLED WITH TAG Brasov

Sales of homes funded by bank loans rose by 40% during H1 2024 compared to the same period of last year over the reduction of interest rates and the increase in transaction prices, according to transactions brokered by RE/MAX Romania.

Bucharest’s short-term rental industry is expected to outperform the previous year's level and has already recorded estimated revenues close to €24 million in H1 2024, according to a Crosspoint Real Estate report. 

Industrial developer VGP is expanding a building in VGP Park Brașov by 13,813 sqm, with 20% of the new space already leased. 

Residential broker RE/MAX has announced the expansion of its Romanian network with five new franchises in five cities. 

Grand Development, founded by Romanian entrepreneur Ionuț Nicolescu, has closed a partnership with Radisson Hotel Group for the opening of its first five-star villas resort in Romania, near Brașov.

The number of employees working in office buildings rose from 40% in Q1 2023 to around 55% in Q1 2024 in the projects managed by Colliers in Romania.

New office deliveries in regional cities totaled 83,000 sqm in 2023 and the total leasable area has climbed close to 1.1 million sqm, according to a Cushman & Wakefield report. Offices in regional cities of the likes of Cluj-Napoca, Timișoara and Brașov represent around 30% of the corresponding total in Bucharest.

Local retail chain operator La Cocoș has opened its fourth hypermarket in Brașov. The company has leased 10,000 sqm for the new unit in the Brintex complex, in a deal brokered by Cushman & Wakefield Echinox.

Financial company Transilvania Investments has sold the Coroana-Postăvaru hotel in Brașov for close to €9.4 million as part of its portfolio rebalancing strategy. The sale was carried out in a public offering. 

Romanian property company Grand Development, founded by Ionuț Nicolescu, is investing over €12 million in the development of Montebello Transylvania Resort, a project comprising 47 chalet-style villas near Brasov. The first phase of the development is slated for completion in November 2023.