Romania’s commercial property transactions volume dropped by 29%

by   CIJ News iDesk V
2021-10-13   14:32

The volume of transactions with commercial properties - offices, industrial spaces, logistics, hotels - totaled in the first nine months of the year about EUR 570 million, 29 percent less than the same period last year, when the volume reached EUR 890 million, notes an analysis of real estate consulting company JLL.

"Although there are several negotiations that are likely to close in the fourth quarter, it is hard to believe that we will be able to reach by the end of the year the level of about EUR 900 million, recorded in 2020. This situation is largely generated by lack of supply - many owners are not interested in selling in the current market conditions ", said Andrei Văcaru, Head of Capital Markets JLL Romania.

As last year, the offices attracted most of the investments made, ie about EUR 350 million or almost 60 percent of the total volume.