ARTICLES LABELLED WITH TAG Bucharest

Property Forum’s annual SEE Property Forum Award Ceremony will take place during SEE Property Forum on 24 October 2023. The list of award categories is already available and nominations are now open until September 11th. Property Forum’s Country Manager for Romania Fulvia Meirosu and CEO Csanád Csürös answered all potential questions related to the nomination process and explained how the winners will be selected.

Office rents in Bucharest rose by up to 15.8% in the 12 months to June 2023, with the highest prices recorded in the CBD area of the city, according to a report by Cushman & Wakefield Echinox. 

Speedwell obtained the BREEAM Excellent Certification for the first building in The Ivy residential complex under development in northern Bucharest.

Bucharest is the largest retail market in Romania with a total stock of 1.24 million sqm in operational projects, while across the country Timișoara has the biggest volume of shopping centres and retail parks of all regional cities. 

Globalworth, the developer of office and industrial projects in Romania, has completed a solar plant installation on the rooftop of its Industrial Park West in Oradea.

Speedwell has secured a loan of €13.6 million from Garanti Bank for the development of the third phase of The Ivy residential project in northern Bucharest.  

Industrial developer CTP has delivered a warehouse of almost 10,000 sqm in CTPark Bucharest North for FineStore, the largest online liquor retailer in Romania. The lease transaction was advised by iO Partners. 

Romania ranks third in the top of the European countries with the cheapest housing, after Bosnia and Herzegovina and Greece, with an average price of €1,417 per sqm, according to a Deloitte report. Homes prices in Romania rose by 10.6% compared to 2021. 

Bucharest is the fifth most attractive market out of 20 cities in CEE-12 in terms of the interest of the main operators to invest in new hotel facilities in the next period, while the results of hotel operators in the Romanian capital reaching pre-pandemic rates, according to a survey by Cushman & Wakefield Echinox. 

Andrei Văcaru, Head of Capital Markets CEE at iO Partners, spoke to Property Forum about the volume of local real estate investments in 2023 and Romania’s ability to attract more institutional investors in various sectors.