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Romania has third share in regional value of real-estate transactions

The financing sources for real-estate acquisitions have come from local banks as well as from banks from Germany, Austria, The Netherlands, France, Greece and Turkey.

Last year Romania has ranked third in Central and Eastern Europe (excluding Russia) when it comes to the value of real-estate transactions, with a total of EUR 2.2 bln (approximately 20 per cent of the regional volume), according to a report authored by the Jones Lang LaSalle company, Mediafax informs. Romania was surpassed by Poland and the Czech Republic. ‘Romania has been the star of the region this year (2007- editor’s note), with an investment hike of 144 per cent, the investments reaching a total volume of EUR 2.2 bln’ the report reads. In Romania close to half of the transactions have consisted of retail segment properties, 34 per cent of office spaces, 8 per cent of hotel spaces and 8 per cent of industrial spaces. ‘Romania is starting to increasingly meet the acquisition criteria of investment funds that are active in Central and Eastern Europe’ the study goes on to say. The LaSalle analysts point out that the banks have started to favor transactions that surpass EUR 100 M. ‘Investors that do not benefit from strong relations with the banks have a hard time obtaining the financing, with several investor groups being left outside the real-estate market for this reason, at least until an improvement in financing conditions is registered’ the authors of the study state. In what concerns the output, its downfall has stopped in the last quarter of last year, with investor expectations for 2008 pointing out to a growth from a level below 6 per cent to a level of 6 to 6.25 per cent. ‘At this level Bucharest maintains a 35 to 65 percentage point difference compared to Prague and Warsaw’ the study shows. At Central and Eastern European level, the lack of liquidity has significantly reduced the number of investors interested in buying real-estate products in the first quarter of 2008. For the first half of the year, the LaSalle analysts estimate a smaller level of regional real-estate transactions compared to last year, on the backdrop of the investors’ reserved attitude towards the decisions to sell or buy. April ‘tIMOn’ exhibition opened by Transport Minister Orban The last exhibition of the spring edition of the ‘tIMOn’ real estate fair is taking place from April 8 to 13, at the World Trade Center Bucharest, introducing to the general public over 15,000 homes in Bucharest, in Prahova valley, at the Black Sea but also abroad: Balcic, Kavarna, Pamporovo (Bulgaria), Hurghada (Egypt), Spain or Brazil. The ‘tIMOn’ exhibition in April is showing five residential developments as a premiere: Octavia Residence (an apartment block situated in the Sisesti area, developed by Cherpec Construct and promoted by Pacs), Olympus Holiday (107 apartments in the Olimp resort, developed and promoted by Grup Constructii Vest), Sydney Armonia, Brooklands, Ideea Residence (off-plan apartments and villas in Prelungirea Ghencea, Politehnica Park and Pipera, promoted by Contempo), Padurea Rosu Residence (a development promoted by Premium Imobiliare). The exhibition will be formally opened by Transport Minister Ludovic Orban. Sursa: http://www.nineoclock.ro

Tags: level transactions estate regional romania

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