Investment transactions in Romania’s commercial property sector amounted to €656 million in the first three quarters of 2022, which was up 16.5% compared to the same period of last year, with offices driving deal volumes, according to real estate consultancy JLL Romania.
The office sector recorded transactions worth €305 million, followed by retail and industrial projects with €235 million and €89.5 million, respectively.
During Q3 2022, the prime yields held steady at 6.75% for offices, 7.25% for retail and 7.50% for industrial projects.
"In the current market conditions, we expect that most of the deals in the coming period will be made by investors already familiar with Romania or at least with the region. Investors who have equity and do not need bank financing will have an important competitive advantage and properties with bank financing transferable to a potential buyer will be significantly more liquid," said Andrei Văcaru, Head of Capital Markets at JLL Romania.
Bucharest was the main domestic market for investments and recorded 63% of total deals recorded in the first nine months.
By the end of this year, JLL’s consultants suggested that the investment market could reach €1.2 billion, which would be a record after 2008.
