The Romanian real estate investment market could again reach the threshold of 1 billion euros in 2024, under the conditions in which the first half of the year ended with a total value of 419 million euros, according to the report made by Colliers consultants on the evolution of the real estate market in the first semester of this year.
„The first half of 2024 ended with real estate transactions worth a total of 419 million euros in Romania, which represents an increase of two and a half times compared to the volume in the same period last year,” says Colliers.
Trading activity was dominated by industrial and retail assets for the second consecutive year, marking a significant change from previous years when offices were predominant. Environmental, social and governance (ESG) criteria are becoming increasingly important in the decision-making process of real estate investors, banks and tenants, Colliers consultants point out in their recently published report, explaining that although the market’s long-term potential remains significant, there is short and medium term challenges.
The largest transaction of the year was the sale of Globalworth’s industrial portfolio, which included approximately 270,000 square meters of warehouses in several cities in Romania, plus land for future projects. This is one of the largest industrial transactions in Romania and the higher since the sale of Europolis Park to Singapore’s GIC in 2016.
According to the source, the second largest transaction in 2024 was the purchase of Expo Market Doraly by WDP, for approximately 90 million euros.
Two other major transactions on the office market, brokered by Colliers, involved the sale of The Landmark office park, a class A space in the area of Piata Romana, in downtown Bucharest, with a leasable area of 23,500 square meters, sold by Cerberus Capital Management and its regional partner Revetas Capital, followed by the acquisition of the myhive Victoriei office building by AFI Europe from Immofinanz, valued at approximately 27 million euros, with Colliers and Cushman & Wakefield Echinox appointed as co-exclusive agents.
„Another notable transaction is the sale of Funshop Park Turda by Scallier to BT Property for approximately 15 million euros. This represents the second transaction of BT Property, a division of Banca Transilvania, and reinforces the presence of a new type of capital on the local market,” the report reads.
At the level of Central and Eastern Europe (CEE), Romania recorded the best performance in H1 2024 compared to the other five major economies of Bulgaria, the Czech Republic, Hungary, Poland and Slovakia, according to the Colliers report „H1 2024 Investment Scene”.
AGERPRES
