Property developer AFI Europe has taken over two plots of land in northern Bucharest, in a deal worth €12 million, for the development of its first build-to-rent residential project. 

Savills Investment Management has published its latest outlook report for real estate investment markets in 2022. While next year may mark a turning point for both office and retail investment as the world continues to recover from the COVID-19 pandemic, sectors such as living, logistics and real estate debt also look set offer compelling opportunities.

Romanian developer Forty Management plans to start new residential projects covering 138,000 sqm with a market value of more than €310 million. The investments are in various permitting stages. 

JLL will be responsible for searching future tenants for commercial premises inside two of Yareal’s largest projects in Warsaw’s Wola and Kamionek districts.

The number of residential units sold in Romania in the first 10 months of 2021 increased by 65% to more than 150,000 individual units compared to the same period form 2021, according to official data from the National Agency of Cadastre and Real Estate Advertising. 

Yovav Carmi, President of Management Board and Ariel Ferstman, CFO of GTC have talked to Property Forum about the latest financial results of the company, coping with the effects of the pandemic in the commercial real estate sector and the new directions of company activities.

Romanian Nordis Group has kicked off the development of the second phase of Mamaia 5***** project with hotel and residential components.  

Home prices in Hungary have increased further, with provincial cities showing an outstanding price rise and Budapest also becoming more expensive following a year of stagnation, the National Bank of Hungary (MNB) said in its latest Housing Market Report. The price gap between Budapest and county seats has decreased in 2021. On a national average, housing prices rose 13.3% year on year in Q2, including a 9.1% rise in Budapest and an 18.2% increase outside the capital.

The European Central Bank has highlighted growing vulnerabilities in housing markets and stretched financial asset valuations in its Financial Stability Review for November 2021. The ECB has also warned of an increased likelihood of a correction in both residential and commercial real estate markets.

Working from anywhere and social distancing recommendations have led to a population migration trend towards quieter areas in the suburbs or in localities around big Romanian cities on the back of the ongoing health crisis, according to a report of real estate consultancy Colliers.