ECONOMY MARKETS

Real-estate market registers accelerated growth, volume of transactions to reach EUR 800 M by year’s end

The Romanian real-estate market is experiencing accelerated growth, a total volume of transactions of EUR 800 M being estimated at the end of 2015, according to a survey conducted by a real-estate consultancy company and remitted to Agerpres on Monday.

The positive evolution registered ever since 2014 has continued this year too, the real-estate market being dominated by much more confident players. The most recent market report authored by Colliers International emphasizes that the Romanian investment market has been marked by large transactions whose individual value has even surpassed the EUR 100 M threshold, but also by the presence of renowned international investors that either have entered the market or have consolidated their local presence.

Outsourcing services continue to be the strongest pillar of the office sector, since Romania is becoming increasingly visible for large BPO (Business Process Outsourcing), SSC (Special Service Centre) and IT companies interested in Bucharest as well as secondary cities.

Over 60,000 persons currently work in outsourcing activities and the number is expected to grow to 150,000 in the next five years. The Bucharest office market is vivacious, significant deliveries being announced. Propped-up by the positive economic backdrop, the development of real-estate assets and the contraction of yields on competitive markets, Romania has attracted new investors that have closed, by the end of the year, transactions worth a total of approximately EUR 800 M, a level similar to the one registered last year (EUR 950 M).

Bucharest is among the Central and Eastern Europe capitals that offer the highest yields for the office sector (7.5 per cent), a similar level for the retail sector and a yield of approximately 9 per cent for the industrial sector.

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