Colliers evaluates properties worth EUR 5 billion

Colliers International evaluated local properties worth EUR 5 billion in 2009, the firm has announced. The sum covers both the market value of the existing buildings and the market value of land plots.

“As was the case in 2008, the traditional clients of the department played the largest part in the number of reports performed, approximately 75 percent, and in the total of the value of properties evaluated – over 85 percent,” said Laurentiu Lazar, manager of the evaluations department of Colliers International.

Last year the company evaluated properties for Immoeast, OMV Petrom, Romtelecom, BCR and UniCredit Tiriac Bank.

The company has said the main type of evaluations were those carried out for financial and fiscal reporting purposes. Another main source of demand was financial institutions looking to update the market value of properties. Apartments mortgaged by financial institutions were a third stream. The service is already used by several players in the local banking system.

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