2021 is expected to be a year filled with hope, but much depends on the timely implementation of mass vaccinations. Economies are expected to reverse the negative impact of the pandemic, 2021 is set to be the much wanted jump-start of recovery.
• Romania’s total investment volume accounted at the end of the year for EUR 588.5* mln. a value almost half of the one registered in the record year 2019 but similar with the one registered in 2015, a starting growth year. Capitalizing on the momentum gained in the previous year, 68% of the total investment volume was transacted during the first six months of 2020.
• At the end of 2020, Bucharest modern office stock reached at 2.95 mln. sq m of office space, more than half, respectively 63% being class A. Regarding the most developed areas, 18% of the modern office stock is located in Calea Floreasca/ Barbu Vacarescu sub-market, followed by Center-West and Dimitrie Pompeiu with an equal share of 15%.
• Romania’s modern retail stock reached at the end of 2020 at 3.90 mln. sq m of shopping centers and retail parks, as circa 139,000 sq m were delivered throughout the year in defiance of a restrictive year when most of the retailers found themselves on the non-essentials list. As concerns the modern stock layout, 31% is concentrated in Bucharest while the rest is scattered throughout the regional cities. When looking at the stock’s format, retail parks prevail with 63% of the total modern area.
• Industrial modern stock in Romania reached at the end of 2020 at approx. 5.1 mln. sq m after more than half a mln., respectively, 574,000 sq m were delivered over the year. 65% of the 2020 delivered area can be found in Bucharest, Romania’s largest industrial hub, while the remaining 35% is scattered throughout the country in regional cities such as Deva, Oradea, Sibiu, etc. In addition, increased competition amongst developers and constant demand for high standard logistics spaces led to a permanent progress in the quality of new supply; at the end of 2020, 87% of the total modern area being class A.
• In spite of a 2020 sprinkled with uncertainties, developers continued their search for land plots best suitable for their projects. The most active real estate sector proved to be the residential market with numerous investors either entered as new players on this market, either increased their portfolio strategizing for the next place to be.
Sursa: cbre.ro
