The impact of COVID-19 on the purpose-built student accommodation (PBSA) sector has been less severe than expected, proving the resilience of the asset class, as shown in Bonard’s annual report.

According to JLL, the value of real estate investment transactions in Central and Eastern Europe totalled more than €9.7 billion in 2020. Poland with €5.6 billion continued its dominance among CEE countries, with the Czech Republic in second place with €1.5 billion (after excluding the Residomo deal of €1.3 billion). Total volumes in Hungary amounted to €1.25 billion, while in Romania and Slovakia total value hit €900 and €525 million respectively.

In the fourth quarter of 2020, seasonally adjusted GDP decreased by 0.6% in the euro area and by 0.4% in the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. These declines follow a strong rebound in the third quarter of 2020 (+12.4% in the euro area and +11.5% in the EU) and the sharpest decreases since the time series started in 1995 observed in the second quarter of 2020 (-11.7% in the euro area and -11.4% in the EU). According to the first estimation of annual growth for 2020, based on seasonally and calendar adjusted quarterly data, GDP fell by 6.8% in the euro area and 6.4% in the EU.

Bucharest – the skyline transformation by 2025, an exclusive investment/destination marketing oriented real estate digital tour, for optimism and perspective after a traumatic year (2020), is out now, published by Romania's Real Estate Yearbook 2020.

For many market players, 2020 was a year in which investment plans were changed to keep more liquidity in the company. Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director at Globalworth, tells us about the effects of the COVID-19 pandemic on the investment market but also about the future of the Romanian and Polish markets.

Hagag Development Europe has an investment budget in Romania of €100 million for this year, according to Ziarul Financiar.

The Black Sea Trade and Development Bank (BSTDB) has extended a €50 million loan to One United Tower S.A. to facilitate the development of business infrastructure in Romania. 

Torus has sold the fourth and final stage of the Alchemia business complex in Gdansk - the Neon office building. The buyer is global real estate investment manager DWS, on behalf of one of its German retail real estate funds. The net value of the transaction is over €80 million.

Budapest’s office market hasn’t collapsed but it has undergone a significant transformation over the past 12 months, and now the new normal has to be redefined, Valter Kalaus, Managing Director of consulting firm VLK Cresa explains.

Atenor has signed an agreement relating to the acquisition of new plots in District XI of Budapest for a total area of 82,861 sqm. This new project, named Lake City has the capacity to build a total of 92,183 sqm residential area and will propose 1,326 apartments developed in eight phases. The first phase has a valid building permit in place, while for the rest of the project the building permits are yet to be obtained.