ARTICLES LABELLED WITH TAG report

The first three months of the year were closed with promising figures on the Romanian property market. CBRE published its Q1 2020 overview of the main commercial real estate sectors.

Getting a clearer picture of market participants’ expectations is more important than ever in these turbulent times. That’s why Property Forum and RICS launched a survey on the potential implications of the COVID-19 crisis on real estate markets in CEE. Nearly 100 people filled out our questionnaire. Here are the results.

At the start of the year, investment into Polish commercial real estate was dominated by logistics. Warehouse assets worth €1.46 billion changed hands in Q1 2020, which almost equals the annual total for 2019 of €1.48 billion, according to a report by Renata Osiecka, AXI IMMO’s Managing Partner.

Investors still show interest for real estate acquisitions Romania, despite the COVID-19 pandemic, according to a survey conducted by Colliers International among more than 60 real estate companies.

According to a recent report published by Cresa, portfolio transactions are on the rise on the Polish retail market. Two of last year’s three largest commercial real estate transactions were retail portfolio deals: the €600 million acquisition of the shopping centre portfolio from Cromwell Polish Retail Fund by Cromwell Property Group and the disposal of Atrium Koszalin and Atrium Felicity to ECE Group for €298 million.

Saving money and time spent in traffic are the main advantages of working from home, while the main disadvantages are the lack of direct socialization with colleagues and the difficulty in separating professional from personal time, according to a survey conducted by Cushman & Wakefield Echinox.

Everyday personal and professional life have both been impacted by the COVID-19 pandemic in a radical and unexpected way, and the general opinion is that its influence and effects will have repercussions on how people live and work, even after the medical situation will be stabilized. Cushman & Wakefield Echinox and Dentons are launching a debate over 10 issues that will impact the entire office sector in Romania, covering over 350 modern buildings with a total surface of more than 4 million square meters and approximately 400,000 employees working in some of the largest companies, emblematic for the national economy.

With a total volume of approximately €120 million in the first quarter, the Romanian investment market had a similar start compared with the same period in 2019, when the volume of transactions was €117.5 million. An optimistic scenario puts the total volume of investments for 2020 at €750 million, while a pessimistic one somewhere at €500 million. Crosspoint Real Estate has issued its latest market report on the Romanian real estate market’s performance.

Colliers International’ latest report “COVID-19 European Real Estate Markets Government Response” presents information on how the national governments across EMEA are supporting businesses with specific reference to commercial and residential rent/mortgage payments, business loans and grants, taxation allowances and business rates and household/individuals salaries. Force majeure impact on lease contracts is also considered.

For the first time since Q4 2018, the vacancy rate on the Budapest office market increased in Q1 2020, albeit only by 0.6 pps. Total demand in the first quarter of 2020 reached 79,660 sqm, stagnating year-on-year, according to BRF’s latest figures.