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Real estate investments plunge to six-year low

Real estate investments in Romania in the first semester of this year recorded the lowest value of the last six years, with only two transactions signed in this period and some EUR 55 million transacted, according to a study by the real estate consultancy CBRE.

September 2012 - From the Print Edition

The two transactions were the sale of the Nokia plant in Cluj, to household producer De'Longhi, and that of Timisoara-based City Business Centre compound, which was acquired by the South African-registered investment fund NEPI.
According to data from CB Richard Ellis (CBRE), Romania remains an attractive market in terms of real estate transactions but the lack of financing and the Euro zone turmoil have raised the investment risk and quelled investment appetite.
In the CEE region, Russia and Poland registered the highest investment volume. Regarding prime yields in Romania, office segment yields stabilized to 8 percent, while retail notched up 8.75 percent for commercial centers and 10.25 percent for storehouses. By comparison, in Warsaw, prime yields in office are at 6.25 percent, while on the industrial segment the figure is 7 percent. Retail in the Polish capital has an estimated prime yield of 6 percent. Similar values are registered in Prague and Budapest.
In the first half of 2012, Russia posted over EUR 900 million of transactions and Poland over EUR 800 million. The Czech Republic, in comparison, saw a transaction volume of EUR 180 million at six months.



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