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Real estate transactions in Romania exceeded EUR 300 million in Q1

The value of real estate transactions in Romania was estimated at more than EUR 300 million in Q1 of 2014, a significant increase compared to the same interval in 2013, according to CBRE International consultant.

2014-04-16 16:59:41

The estimate takes into account both increases in value and volumes in the interval of January-March 2014. The transactions have been represented by 9 property transfers, compared to 4 registered in Q1 of 2013. Last year, the local real estate market registered transactions of EUR 229 million, with 25 percent more compared to 2012 while the first quarter of last year brought EUR 85 million worth transactions.

The main deals this year referred to the buyback contract of Upground complex by Globalworth Real Estate from a fund owned by Deustche Bank, the purchase of Innovations Park, Moldova Mall, Maria Plaza commercial center and the former hypermarket PIC in Oradea. Also, the report takes into account the transfer of Charles de Gaulle Plaza office building between the two funds of German company GLL Real Estate Partners.

According to CBRE, the CEE region registered EUR 1.954 billion in transactions, 40 percent less compared to the same interval of last year. Poland triggered the largest volume of transactions, with EUR 893 million and an increase of 40 percent compared to previous year, while Russian market came in second, with a total of EUR 418 million worth transactions, but a decrease of 78 percent. Czech Republic mentioned EUR 236 million worth transactions in Q1 this year, compared to EUR 412 million registered in Q1 of 2013.

The total real estate deals in Europe reached EUR 37.9 billion, with 18 percent more compared to Q1 of 2013, with the most significant increases registered in Austria with 183 percent, Spain, 132 percent and Finland with 103 percent. Markets such as Sweden posted increase of 68 percent while France posted 37 percent.



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