ARTICLES LABELLED WITH TAG economy

17
Feb
2021

Romania records Europe’s strongest GDP growth in Q4 2020

by Property Forum
In the fourth quarter of 2020, seasonally adjusted GDP decreased by 0.6% in the euro area and by 0.4% in the EU, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. These declines follow a strong rebound in the third quarter of 2020 (+12.4% in the euro area and +11.5% in the EU) and the sharpest decreases since the time series started in 1995 observed in the second quarter of 2020 (-11.7% in the euro area and -11.4% in the EU). According to the first estimation of annual growth for 2020, based on seasonally and calendar adjusted quarterly data, GDP fell by 6.8% in the euro area and 6.4% in the EU.
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14
Jan
2021

CEE economies to grow robustly in 2021 and beyond

by Property Forum
The stable 2021 outlook for sovereigns in Central and Eastern Europe (CEE) reflects their robust economic growth prospects and strengthened ability to carry and reduce debt, which make their credit profiles resilient to the sharp deterioration of their public finances in 2020, Moody's Investors Service said in a report published today. Ageing populations and structural economic change will remain longer-term challenges for the region.
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01
Dec
2020

How will U.S. election results impact real estate markets?

by Property Forum
The geopolitical diversity of the EMEA region means that there are multiple economic and business permutations to consider in light of a new first term for President Biden and the Democratic party. There is a strong likelihood that the EU and national EEA (European Economic Area) governments will cooperate more openly with the United States under President Biden. Outside of the EEA, in Middle East, Africa, Russia and Turkey ongoing relationships will be more mixed.
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02
Oct
2020

CEE manufacturing PMIs show stalled recovery at the end of Q3 2020

by Property Forum
Manufacturing PMIs in CEE showed that the recovery slowed at the end of Q3 2020 and the carryover to Q4 2020 was small (and even negative in some cases). This assessment pertains also to the outlook, with new orders and output expectations either rising less or showing a slower recovery in September than in the previous months, according to Dan Bucsa, Chief CEE Economist at UniCredit Bank in London.
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03
Sep
2020

Hungary to create flexible home office regulations

by Property Forum
Employers may not unilaterally order employees to work from home even in case of a strong resurgence of coronavirus infections and this would require a mutual agreement under new remote work rules that can now be considered final. Home officing would also be supported by a lump sum payment of overhead costs to the tune of HUF 16,100 (around €45) per month, tax-free. There are, however, still question marks regarding health and safety issues, local daily Magyar Nemzet reports.
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24
Apr
2020

Romania's logistics sector weathers the storm well

by Property Forum
The latest online panel discussion of Property Forum focused on the effects of the COVID-19 lockdown on the Romanian property industry. The experts discussed, with the moderation of Răzvan Gheorghiu-Testa FRICS, Partner and Co-Head of Real Estate Practice Group at Ţuca Zbârcea & Asociaţii, how governmental measures affect the market and how different asset classes are impacted by the crisis.  
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16
Apr
2020

Hungary to reintroduce 5% VAT rate for certain residential projects

by Property Forum
For residential developments executed in brownfield zones a VAT rate of 5% will apply instead of the normal 27%, the Minister of the Prime Minister's Office announced today.
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14
Apr
2020

CEE countries start to loosen lockdown measures

by Property Forum
Countries in CEE acted early by closing their borders and introducing lockdown measures in response to the pandemic. Now, Austria and the Czech Republic are among the first in Europe to begin lifting their coronavirus restrictions.
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06
Apr
2020

Are wage subsidies enough to tackle the COVID-19 crisis?

by Property Forum
Most CEE governments have already introduced measures aimed at helping employed people and struggling businesses amid the coronavirus outbreak. In most countries, at least half of the average wage will be taken over by the state, up to 80% or more in certain countries. Hungary is the only country in the region where no concrete measures have been announced yet. We looked at what workers of affected companies can expect across the region.
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02
Apr
2020

Large manufacturers to halt production in CEE

by Property Forum
As part of the fight against the coronavirus, many firms have decided to temporarily cease their production to ensure the health of their employees.
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Latest news


New leases

  • The Wola Center office building has two new tenants. Instytut Monitorowania Mediów will take 900 sqm and Moovin, interior finishing company leased 300 sqm. Both deals were signed for 5 years. Wola Center is owned by Hines Polska.
  • Sinsay will open a 1,500 sqm store in Funshop Park in Roşiorii de Vede this year. The retail park is the first of six projects under the Funshop Park brand, developed by Polish company Scallier, to open in Romania.
  • ELKO Romania relocated its activity in CTPark Bucharest where it rented a storage space of 1,800 sqm. The transaction was brokered by Dunwell.

New appointments

  • Olga Szczęsna has joined JLL Poland's Office Agency Department, where she has taken up the position of director. Olga will be responsible for the commercialization of buildings from the Patrizia portfolio, including N21, Metron and G9, as well as the Central Point building, currently under construction in the centre of Warsaw.
  • JLL Romania consolidates its industrial team by recruiting Ciprian Sîrbu in order to provide Supply Chain services on the local market. Ciprian Sîrbu has over 10 years of experience in logistics, e-commerce, and industrial supply chain, completed by 7 years in which he worked in the IT field. His role within JLL is to provide advice to customers in streamlining the supply chain like the need for such services increases.
  • Simona Costache has joined Romanian developer One United Properties as Executive Director, Residential Sales. With 15 years of experience in real estate, Simona has been involved in sales, rental and facility management for residential developers in Bucharest.


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