ARTICLES LABELLED WITH TAG Brasov

The Romanian land market totalled around €450 million in 2024, a figure similar to 2023, with the residential sector generating the highest volume of transactions, according to estimates by Colliers Romania. 

Hyatt Hotels Corporation has announced plans to expand in the Balkans region, with five Hyatt Regency hotels and resorts expected to open by 2027.

Wallberg has obtained the construction permit and financing for the fourth residential building in the XCity Towers complex in Timișoara.

Sales of homes funded by bank loans rose by 40% during H1 2024 compared to the same period of last year over the reduction of interest rates and the increase in transaction prices, according to transactions brokered by RE/MAX Romania.

Bucharest’s short-term rental industry is expected to outperform the previous year's level and has already recorded estimated revenues close to €24 million in H1 2024, according to a Crosspoint Real Estate report. 

Industrial developer VGP is expanding a building in VGP Park Brașov by 13,813 sqm, with 20% of the new space already leased. 

Residential broker RE/MAX has announced the expansion of its Romanian network with five new franchises in five cities. 

Grand Development, founded by Romanian entrepreneur Ionuț Nicolescu, has closed a partnership with Radisson Hotel Group for the opening of its first five-star villas resort in Romania, near Brașov.

The number of employees working in office buildings rose from 40% in Q1 2023 to around 55% in Q1 2024 in the projects managed by Colliers in Romania.

New office deliveries in regional cities totaled 83,000 sqm in 2023 and the total leasable area has climbed close to 1.1 million sqm, according to a Cushman & Wakefield report. Offices in regional cities of the likes of Cluj-Napoca, Timișoara and Brașov represent around 30% of the corresponding total in Bucharest.