Investments in Romanian real estate tripled in mid-2014

The volume of investments in real estate increased by 222% in the first six months of 2014, compared to last year. Their value accounted for EUR 402 million, according to research from CBRE. Investments in full year 2013 were 15% lower than those in the first half of 2014. The rapid growth is an effect of record number of 15 large transactions – the highest value since 2008. Their average value was EUR 26,8 million. Most of transactions took place in the office segment, which represented 58% of total volume. More than a half of that was generated by Globalworth, a real estate company set by Greek investor Ioannis Papalekas and listed on the London Stock Exchange. The other main players on Romanian real estate markets were developers and institutional funds. The apparent recovery of Romanian real estate market is another sign of improving economic situation. Especially that besides developers, most active on land market were retailers (Lidl, Dedeman, Kaufland, Leroy Merlin) and industrial companies interested in land for new factories (Dr. Oetker, Best Food, Continental). Those facts could be the sign of coming recovery in private consumption and industrial production. More on CBRE report can be found here.Tags: ,