The land market remained very active in Romania in the first half of 2023, with an estimated turnover of around 250 million euros, a volume that only includes land transactions for commercial real estate projects in sectors such as the residential, office, retail ones, without taking into account segments such as the industrial or energy ones, shows Colliers in its market report on the evolution of the real estate market in the first half of this year.The retail segment is enjoying the most attention as developers continue to see opportunities in many areas of the country. As the summer period has been fairly quiet so far, Colliers consultants expect modest transaction volumes in the coming quarters.In terms of demand, it has been almost evenly split between the retail and residential segments. However, while retail developers remained quite active, focusing mainly on retail/big box stores parks in areas/cities with limited stock of modern retail space, in the residential sector there has been a more pronounced slowdown in transactions, as higher interest rates and rising construction costs have led to a fairly significant decline in activity, especially compared to the 2020-2022 period.In Bucharest, the adjustment of the supply of new dwellings amid lower demand was evidenced in the first quarter of the year by a sharper decline in the number of dwellings delivered. Only 4,666 dwellings were delivered in the first three months of 2023, down 16% compared to the same period last year.The evolution of the residential market is closely linked to the general evolution of the economy, and the good outlook for the Romanian economy was highlighted in the European Commission's latest forecast this spring. Despite the slowdown in economic growth in the European Union compared to 2022, Romania is the country with the highest projected economic growth in the EEC and the third highest in the EU, with 3.2% in 2023 and 3.5% in 2024. These prospects contribute to the positive investment climate, together with the second lowest inflation in the CEE-6 and the level of public investment in infrastructure.
Romania’s Treasury on May 12 placed RON 540 million (EUR 100 million) of Government bonds on the domestic market at an average yield of 8.45% by reopening an issue that matures at the end of July 2026, according to the National Bank (BNR). The yield is 1.5 percentage points up from roughly two weeks earlier, […]
With five days remaining until the second round of Romania's presidential elections on Sunday, May 18, the race between far-right leader George Simion and independent candidate Nicușor Dan is extremely close, according to an AtlasIntel opinion poll conducted for
At most schools, the bell signals the end of the learning day. At the British School of Bucharest (BSB), it’s just the beginning of something entirely different. On any given afternoon, the campus comes alive with a quiet sort of magic - students experimenting with food and flavor in a professional-grade kitchen, building miniature robots […]
Heberger Romania proudly presents the Combo Apartment at Pipera Eins, an exclusive boutique residential project designed for modern, eco-conscious living. Nestled in one of Bucharest’s most prestigious neighborhoods, Pipera Eins offers German-quality craftsmanship, sustainable design, and state-of-the-art amenities, setting a new standard in urban living. The Combo Apartment – A Unique Residential Offering The Combo […]
George Simion, the presidential candidate of the far-right party AUR, is facing criticism after publishing a video in which he is aggressive with journalists and accuses them of political bias. The footage, which the journalists say was filmed without their knowledge, was released on Facebook just as Simion skipped a televised debate hosted by Digi24 […]
Garanti BBVA Romania has signed a financing agreement with the European Bank for Reconstruction and Development (EBRD) worth of EUR 50 mln, aimed at strengthening the bank’s capital base and expanding its lending capacity in the Romanian economy, with a focus on supporting investments in the green economy. Garanti BBVA Romania will allocate an amount […]
