Investors have put EUR 201 million in Romanian property in the first half of this year, according to data from Cushman & Wakefield. The sum covers investments in retail, office, industrial, as well as single asset and portfolio deals.
“Regarding Romania, the investment volumes registered in the first half of 2011 equalled and even surpassed the entire investment volumes for 2010, if we consider as well the recent major recently announced between Immofinanz and Adama. Investors are interested in the Romanian market; the most attractive sector is the Bucharest office market, although we expect in the next 12 months an increased interest for the retail properties as well. We have noticed an increase interest for land development but the prices are much more reduced compared with the peak in 2007- 2008,”said Costel Florea, partner at Cushman & Wakefield Romania.
“The CEE region, presently, is not characterized by homogeneity, Poland being the preferred market at the moment. Nevertheless, we expect an increase of the investor’s interest for Romanian real estate market for the next period Q3 – Q4 2011,” he added.
Central and Eastern Europe have seen combined investments of EUR 2.09 billion in the first half of this year in the core markets of Poland, Czech, Slovakia, Hungary and Romania. This is ahead of the EUR 1.83 billion invested in the second half of 2010 and suggests that total volumes for the region could reach EUR 4.8 billion by the year end, according to the Cushman & Wakefield report.