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The launch of BR’s Real Estate Guide: Major Insights Into Romania’s Property Market In 2023 took place on July 20 with the occasion of the annual Realty Forum: The Voice of Romanian Real Estate. If you couldn’t join us at the Crowne Plaza to get your own print copy, the digital version (PDF) is now available for download.

Editorial: Romania’s new infrastructure to back fresh wave of property developments

By Ovidiu Nicolae Posirca, Contributing Editor

“Construction is underway for the first highway that will link southern and eastern Romania, as well as for several other important highway segments and the high-speed ring road around Bucharest. June marked the start of operations at Brasov’s new international airport, while in early July, the largest bridge over the Danube was opened to traffic in Braila.

These are just a few of the large infrastructure investments that have been completed or are in the final stages of
construction across Romania, underpinning the country’s long-term goal of being better connected with the rest of Europe. Real estate companies are watching these developments and have already secured land in strategic positions for projects that will take shape once the infrastructure works are completed. New industrial developments will be started in the coming year in southern and eastern Romania, while more residential or retail projects will emerge in the metropolitan areas of large cities as new infrastructure projects become operational. The EU remains a strategic funding partner for Romania’s efforts to boost its economy and transport routes, be it by rail, road, river or air. As more new projects are finalised, we should also start to see a gradual improvement of Romania’s perceived image abroad. This is especially critical for the country’s efforts of attracting large institutional investors or asset managers that could seriously consider entering the country’s real estate industry.

The ongoing conflict in Ukraine continues to spell numerous uncertainties in the region and investors have started to factor in potential risks for the Romanian market stemming from the crisis. Romania has streamlined its logistics lines to ease supply pressure for Ukraine and the port of Constanta is truly becoming a strategic point in the region.

With the nearshoring and friend-shoring trends accelerating, Romania is in a good position to attract new manufacturing investments that in turn will generate demand across the real estate ecosystem, from construction firms to leasing agents. All of this will translate to bigger visibility for Romania in the competition for new investments across the CEE region.”

Contents:

Bucharest hotel market maintains steady growth
Mark Thompson, EcoCleanFM: Portfolio diversity has always been the key to our success
Manufacturing projects to generate fresh demand for industrial sector
High interest rates pushing down residential demand
Yitzhak Hagag: our projects encourage clients to think differently and demand more
Iulius projects driving economic and community development in regional cities
Urban regeneration projects boosting local economies
Commercial sector to compensate for drop in land demand from residential players
Real estate players expecting major reforms under new urbanism code
Commercial real estate sector grappling with higher financing costs