Realty transactions in capital Bucharest covered about half of the entire sum, and the remainder came from deals in several other large Romanian cities, including Timisoara, Sibiu, Brasov and Pitesti.
Office space transactions amounted to some EUR160 million (or 47% of overall realty deals) last year. The most significant office space transactions include City Business Center in Timisoara, bought by South-African investment fund New Europe Property Investors (NEPI), HQ Victoriei in Bucharest, took over by Greek investment fund Zeus Capital Partners, and Tower Center International, acquired by businesspeople Dragos Bilteanu and Ioannis Papalekas.
Retail space transactions stood at EUR116 million (34% of the total). French retailer Auchan bought the Tractorul factory site in Brasov last year for EUR25-30 million. Liberty Center in capital Bucharest was auctioned off in August for EUR60 million and the buyer was firm Rosequeens Properties, owned by Rosequeens Properties Limited, registered in Cyprus.
Figures regarding total realty deals also include land transactions needed to develop real estate projects. The value of the most significant land deals stood at over EUR40 million last year.
The lack of financing for real estate acquisitions caused transactions to fall over the past years. Before the crisis, realty deals in Romania amounted to about EUR1 billion.
Access to financing will continue to be limited this year and political stability is what might encourage investments, real estate consultants believe.