Bucharest recorded 10 of the 14 major property transactions closed in the first half of 2022, while the overall volume of investment rose by 6% to €323 million compared to the first half of 2021, according to real estate consultancy CBRE.
The biggest deal in the year to date was S Immo AG’s acquisition of EXPO Business Park in Bucharest from Portland Trust.
CBRE data shows that only 20% of the total investment was directed towards regional cities out of which Cluj-Napoca emerged as the most sought-after regional location.
The office sector generated 62% of the transactions, while industrial and retail and shares of 15% and 12%, respectively. Furthermore, hotel and mixed-use properties held 11% of the investment volume.
“The outlook for 2023 is more mixed, as the ongoing interest rate hikes are having a downward effect on liquidity. Even in this context, Romania’s high yields by regional standards are acting as a buffer to safeguard activity,” says Mihai Pătrulescu, Head of Investment Properties at CBRE Romania.
The agency’s experts suggested that this year’s total investment volume could surpass the 2021 volume, with the market set to surpass the €1 billion mark.
