Commercial property investment in Romania amounted to €149.6 million in the first quarter of 2023, up by 73% compared to the same period of last year, with the biggest contributions from the industrial and office segments, according to real estate consultancy Crosspoint Real Estate.
The industrial segment displaced office products in terms of share in total activity, at 43.4% (€65 million) versus 30.6% (€45.8 million), followed by hotels (€18.3 million), public sector acquisitions (€12 million) and retail (€8.5 million). More than half of the investments were attracted by Bucharest.
“Apart from market stability and product variety, another reason why investor interest has shifted away from regional cities in the past years is the fact that pandemic-related blockages in development led to a limited number of quality properties available for sale. A series of new developments announced on the regional markets are set to pick up pace in 2023 and create additional investment opportunities in the following years,” said Ilinca Timofte, Head of Research, Crosspoint Real Estate.
The good performance comes after a record 2022 when the investment volume totalled €1.26 billion, up 39% year-on-year.
