Real estate investment fell 41% during the pandemic
The volume of real estate investments in 2020 decreased by 41 percent, about 70 percent of which were completed in the first half of the year. In terms of the business sector, the office building market accounted for 80 percent of the volume of transactions.
"The COVID-19 pandemic had a visible impact on the real estate market, but, unlike previous episodes of the crisis, no large-scale negative effects are expected in the real estate sector. The uncertainties that characterize future economic developments, both in Romania and in Europe and globally, can, however, put significant pressure on the balances of the real estate market ", the National Bank report mentions.