Real estate deals will exceed €1 billion in Romania this year, which is a record since the crisis hit the local market.
Investors already on the market are already more active and willing to offer more aggressive prices than new investors, said Andrei Vacaru, consultant with JLL.
The consultancy firm helped sign two record transactions this year, totaling €250 million – the sale of Promenada Mall to NEPI and of Europolis Logistic Park to P3. The two deals make a quarter of the market, said Vacaru, who was involved in both transactions.
Real estate deals stood at €300 million last year in Romania. The highest level, of €2 billion, was recorded in 2007.
Income-producing properties are becoming an increasingly appreciated option for Romanian or foreign private investors who have previously been mainly active in the residential sector and who are now targeting...