The land transaction market ammounted to EUR 450 million in 2022

by   CIJ News iDesk V
2023-01-19   08:29

The volume of land transactions for commercial real estate projects (excluding industrial and traditional warehouses) amounted to approximately EUR 450 million last year, down from 800 million in 2021, according to Colliers estimates. Bucharest and the surroundings of the Capital attracted two thirds of the total volume, while the residential sector generated three quarters of the transactions in the Capital.

"It may seem paradoxical, but despite the large drop in volume, 2022 was one of the best years in the history of the land market in Romania. On the one hand, the volume in 2021 was the best result in 15 years, coming after a somewhat strange 2020, while last year's result is comparable to the good years of the pre-pandemic period. Moreover, when we refer to all the activity and the number of pre-contracts signed, 2022 is at the level of 2021, even if not as many transactions were completed, mainly due to the blockages in the urban area," explains Sînziana Oprea , Land Agency Director, Colliers Romania.