Bucharest City Report Q4 2020
The latest data about Romanian real estate market is available
Q4 2020 property investment volume for Romania is estimated at €74.5 million, a value approximately 34% lower than the one registered in the same period in 2019. For the whole of 2020, transactions volume reached €892.5 million, an increase of almost 30% when compared with 2019.
For the entire year 2020 office gross take up totalled approx. 217 500 m ² corresponding to a 44 decrease when compared to 2019 However, net take up in 2020 reached only 71 400 m² marking a 65 drop from the level recorded during the previous year.
The retail sector faced many challenges during the pandemic, especially because of the restrictions imposed to contain the spread of the COVID 19 virus. The situation gradually improved after most of the restrictions were lifted and especially during the winter holidays.
In total, 142 200 m ² GLA of shopping centers and retail parks were delivered in 2020 in Romania, bringing the total stock to over 3 72 mil m² GLA.
On the industrial market, the most resilient real estate segment last year, total demand during 2020 reached almost 695,000m², approximately 19.4% above the 582,000m² recorded during 2019.
The fourth quarter of 2020 marked a spectacular return of the residential market, with a booming transactional activity registered throughout October – December. The drive of the market’s strong performance was led by the transformation of household into a multi-dimensional space. The buyers were more determined to secure a dwelling aiming to increase their comfort, either by upgrading their existing homes, or making them first residential acquisition.