In the analysed range, the local market attracted investors from over 15 countries from four continents, the buyers' focus being concentrated mainly on properties in Bucharest, with a share of 69% of the total investment. Transactions were also closed in Timisoara, Brasov, Cluj-Napoca, Sibiu, Iasi, Craiova or Pitesti, with the market shares pertaining to each of those cities varying between 2% and 5%.

 

The office segment is the preferred asset class, accounting for 39% of the volume traded, followed closely by retail, with a 34% share. The industrial sector generated transactions of almost €700 million, with a share of 18%, while the hotel market generated around 250 million euros (6%).

 

Tim Wilkinson, Partner, Capital Markets, Cushman & Wakefield Echinox: "The local real estate market has become more attractive in the recent years, with a solid evolution, relevant transactions and increasingly diverse buyers. Alongside traditional players such as NEPI Rockcastle and Globalworth, that have dominated the market in the last decade, a significant number of new companies such as PPF, Dedeman, Prime Kapital, Revetas, Cerberus, Lion's Head Investments, Atterbury or One United have entered the market, while senior players, such as GLL, Catinvest or CA Immo, have also returned. With a solid foundation based on occupants’ request and with sustainable and attractive yield levels, we believe that the local real estate market will continue to generate liquidity, allowing developers to capitalize themselves in order to start new projects. "