Real estate transactions in Romania summed up in the first half of the year 912 million euro, 605 millions were recorded in the Capital, it is shown in a study made by the real estate consultancy company Atisreal.
Most of the transactions were on the retail and offices section. "The superlative" of the analyzed period is the transaction of the Upground project, sold before finalization with almost 500 millions euro.
"The more mature market attracted new low risk investment funds, while speculating funds profited from the low rate of efficaciousness and sold their initial investments", according to Atisreal specialists. They agree that the number and value of investments transactions will stay at high levels, because of the favorable conditions from the market and of the multitude of projects from all sections.
The Bucharest real estate market remains attractive for international investors, being less affected by the US credit crisis because of the low occupation rate, consistent demand and stable rents, with growth potential. "The adhesion at the European Union and the optimistic estimations regarding the economic growth, together with the favorable pointers of the country risk, are the main factors which positively influenced the attractiveness of the local investments market", states the Atisreal study. Acquisitions in the project phase
Investors bought in the last 18 months properties under construction or in the project phase, especially office buildings, lacking quality buildings that generate profit. In the first five months of the year, the office space grew with 27% compared to the same period of last year, reaching 1.74 millions square meters, the stock if office space that should be finished in the second semester sums up 230.000 square meters 59% of them in the North of the Capital. If all these offices will be finished, the total stock at the end of the year will surpass 1.9 millions square meters.
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