Among the largest transactions on the land market in 2018 is Mitiska REIM’s acquisition of the land of the former Helitube in the Colentina are in Bucharest, with a total area of 89,500 sqm destined for a retail project.
The office segment was dominated by companies such as Globalworth, Portland Trust and Forte Partners, which bought land plots totaling an estimated EUR23.7 million and a total area of 32,000 sqm.
For residential projects, Opus Land and One United Properties acquired approximately 116,000 sqm of land for an estimated EUR20.4 million.
Retail projects, mixed-use projects and industrial and logistic spaces prompted the acquisition of numerous land acquisitions in 2018, the company said.
Logistics space developers like P3 and WDP bought lands totaling 600,000 sqm and plan to start development in the near future.
Land prices remained generally constant in 2018. In Bucharest and large regional cities such as Cluj-Napoca, Timisoara amd Iasi lands in the most wanted areas registered price increases of around 10%.
CBRE expects land prices to remain stable in 2019.