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EuroMetropola: Office buildings – an advantageous investment

In the real estate market, the acquisition of office buildings and mixed projects, meaning offices and shopping spaces, are the safest long term investments, according to the consultants from "EuroMetropola" cited by Agerpres.

The representatives of "EuroMetropola" said that the office segment in Bucharest was last year immune as to the rumours related to an imminent significant crisis. The rents remained within the same margins. Yet, for this year, analysts expected rents to drop only in case the volume of offices increases significantly and a serious delimitation could be made among the very good projects and those which do not provide a good ratio between price, location and quality of the work, along with the facilities offered.

Based on the surveys conducted by "EuroMetropola" the Northern part and the central areas of Bucharest are, for the time being, those best represented for class A office buildings. In these areas, prices per square meter range from EUR 18 to 25 per month, and they range from EUR 10-18 per month in the Western part of the Capital. The street shopping areas continue to remain a safe and strong field since they secure constant revenue to owners, through renting. Yet, in relation to lands, there are few transactions, according to analysts. The representatives of "EuroMetropola" added that those who owned large lands and were not short of cash opted for preserving their estates and not selling them at a time when the market is vulnerable. However, for the lands having large areas, partnerships may occur among owners and developers.

The market of constructions and transactions had last year, in our country, a sinusoidal evolution, according to ‘Ziua' daily newspaper. In the last part of the previous year, several developers informed that they put their real estate projects in Romania on hold. According to the analysts, the banks should be blamable on reason of ceasing to provide loans. The Romanians expect house prices to continue to drop, even by 50 per cent, compared to 2007.

Vlad Vlasceanu, General Manager of National Real Estate Fair - tIMOn - estimates that price fluctuation is not over and if it goes down, for the time being, they will surely go up. He said: "We blame BNR norms, but it is not quite so. For instance, in 2008, one room - flat in Ferentari costs between EUR 75,000 and 80,000. The price was higher than for a one - room flat into a new building, also in the outskirts of Bucharest. Offer was over-sized here. The owners started to reduce prices slightly, but only EUR 1,000-2,000 because they were aiming a huge profit." Vlad Vlasceanu added that there would be a time when the owners resize their offer as to make it real.

 

Sursa: http://www.nineoclock.ro

Tags: buildings office eurometropola bnr

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