Adding to this trend is an increase in land availability from owners who feel a more pressing need to sell some of their plots to unblock the market or focus on their projects, which have reached an advanced development stage, a report by real estate consultant Colliers says.
“The upward trend of the supply continues, because new properties are constantly put on the market and demand comes from a rather small number of potential investors. The year started well, however, with major deals announced and in various stages of completion,” says Sinziana Oprea, Land Agency director with Colliers Romania.
“We are seeing portfolio sales such as Rocar and Iride from CPI / Immofinanz, as well as other portfolios, mostly plots for residential developments from actors who have a too large stock and need to unblock or focus on certain projects in advanced stages.”
The active land buyers include Genesis Property, one of the leading owners, developers and operators of class A office buildings, which completed the acquisition of three lots totaling 30,000 square meters from Stizo Invest.
Others are One United, Speedwell and Kaufland and, unlike in previous years, the Romanian government has been quite an active buyer, via various entities, securing certain strategic sites in major cities, Colliers Romania says.
Sinziana Oprea expects other valuable land portfolios to be put on the market soon.
(English version by Loredana Fratila-Cristescu)