Timisoara attracts 125,000 sqm of new real estate projects
The strategic location, which offers access to pan-European road infrastructure, the educated and skilled workforce, coupled with the efforts of the local authorities in both infrastructure projects and cultural programmes put Timișoara on the radar of real estate investors.
There is currently a total of 125,000 sqm of office, retail and logistics space under development in Timisoara, plus four new four and five-star hotels.
Data from local consultancy Hitch & Mosher shows that land prices range from EUR 35-60/sqm for logistics developments, EUR 113-350/sqm for commercial developments and EUR 155 to EUR 1,490/sqm for residential and mixed developments.
Timisoara is the third largest office market in Romania, after Bucharest and Cluj-Napoca.