„The commercial, office and industrial properties completed during 2017 in Romania is estimated at a total of 1.084 billion Euro.” states Cristian Negrea, Head of Valuation at Activ Property Services, affiliated office of GVA Worldwide in Romania.
The analysis has considered all properties of above 3,000-5,000 sq m GLA, completed at national level in 2017, both speculative and owner-occupied.
Office deliveries totalized 258,700 sq m GLA last year, having a total estimated value of 465 million Euro. It was followed by retail properties (264,000 sq m GLA) with a total value of over 328 million Euro and industrial / logistic properties (550,000 sq m GLA) estimated at 290 million Euro.
Bucharest accounted in 2017 for deliveries of retail, office and industrial properties estimated at 582 million Euro, representing 54% of the values of deliveries at national level. The Capital was followed by Cluj-Napoca with properties estimated at 115 million Euro, respectively by Timisoara (105 million Euro).
„We anticipate that the value of retail, office and industrial properties announced for delivery in 2018 will exceed 1.5 billion Euro at national level.” states Cristian Negrea. The growth will come both from the increase in the volume of new deliveries in all segments, but also from the rising prices per sq m as a consequence of the hardening tendency of yields.
