The start of 2024 and the last months of 2023 had a significant contribution to the positive result, after the second and third quarters of last year had been marked by low activity.
The performance is very good considering the challenges in certain areas of the commercial real estate market, amid rising construction costs, believes Sinziana Oprea, Land Agency Director at Colliers Romania. She also expects a 2024 with good results given both investors’ interest and the current volume of deals underway.
Colliers estimates include only deals for commercial real estate projects, not concerning industrial projects and energy ones.
Around 70% of land plots traded last year come from Bucharest and the neighboring areas, where half of the area was represented by land plots with a housing destination, one quarter for retail and the rest for various types of investors.
The most dynamic buyers were One United, Speedwell and Kaufland, but also the Romanian state, which, via various entities, secured certain strategic platforms in major cities.
Colliers considers appetite remains lower than in the 2021-2023 period, but the fluctuation is far from being dramatic. As a matter of fact, some major deals are in various stages of due diligence and are likely to be sealed in 2024.
(English version by Catalina Apostoiu)