ARTICLES LABELLED WITH TAG Cushman&Wakefield Echinox

The industrial and logistics market in Romania reached a stock of 7 million sqm at the end of 2023, with another 500,000 sqm under development across the country, according to data by Cushman & Wakefield Echinox.

Romania saw 11 new retail projects completed last year, with a combined leasable area of 215,000 sqm, sending the market to a 7-year high in terms of deliveries, according to a Cushman & Wakefield Echinox report.

The Romanian property market remains attractive for investments, with 65% of investors surveyed by Cushman & Wakefield Echinox saying they are looking to expand their presence in the local market.

The average office transaction in the first nine months of 2023 stood at 1,810 sqm, which is the highest average of the past four years and close to the level of 1,900 sqm recorded in 2019, according to Cushman & Wakefield data.

Romania attracted around €1.2 billion worth of foreign direct investment (FDI) from real estate and construction companies during 2022, accounting for 17.2% of the total investment volume recorded in the country, according to central bank data analyzed by Cushman & Wakefield Echinox. 

Almost 60 hectares of land plots suitable for the development of real estate projects were transacted in the Bucharest – Ilfov region in the H2 2022 – H1 2023 period, with former industrial platforms accounting for some of the largest transactions, according to a report by Cushman & Wakefield Echinox.

The investment transaction market in Romania reached €181 million in H1 2023, down by 43% compared to the same period of last year over rising financing costs. At the same time, the average price per property decreased from €24 million to €11 million, according to Cushman & Wakefield Echinox. 

Bucharest-based office project Oregon Park, owned by Lion's Head investment fund, has achieved the Well Health & Safety certification, granted by The International WELL Building Institute (IWBI). 

Office rents in Bucharest rose by up to 15.8% in the 12 months to June 2023, with the highest prices recorded in the CBD area of the city, according to a report by Cushman & Wakefield Echinox. 

Bucharest is the fifth most attractive market out of 20 cities in CEE-12 in terms of the interest of the main operators to invest in new hotel facilities in the next period, while the results of hotel operators in the Romanian capital reaching pre-pandemic rates, according to a survey by Cushman & Wakefield Echinox.