ACTIV PROPERTY SERVICES RELEASED THE ANNUAL REAL ESTATE MARKET (SPRING 2018)
Activ Property Services released the Annual Real Estate Market Report, presenting the evolution of the main indicators of the real estate market in Romania in 2017: demography and economy, the retail market, the office market, the industrial market, the residential market and the investment market.
According to the report, real estate market registered a spectacular evolution in 2017, with record volumes of activity on the industrial and office sectors, record demand in most of the sectors and growing occupancy rates. Rental levels were generally stable, with some increases reported for retail and industrial spaces, while residential prices increased by an average of 10%.
Real estate forecast is positive for 2018, being expected increases in development pipeline, active levels of demand in all sectors, together with a stable/up evolution of rents and further reduction of prime yields. Retail completions are announced to include 93,200 sq m GLA of shopping centre space and to jump to a maximum potential of 135,000 sq m GLA of retail parks in 2018, however not all projects are likely to be opened in term. Office stock under construction to be delivered in 2018 exceeds 200,000 sq m GLA in Bucharest and a record volume of 155,000 sq m GLA outside Bucharest. Industrial stock under construction accounts for more than 315,000 sq m GLA, out of which 75% is concentrated in Bucharest area.
The full report is available on the company's website: https://www.activpropertyservices.ro/en/market-analysis