Full article can be viewed on our property valuation site:
https://www.evaluari-proprietati-romania.ro/en/press-release/value-completed-properties.html
Full article can be viewed on our property valuation site:
https://www.evaluari-proprietati-romania.ro/en/press-release/value-completed-properties.html
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%.
Industrial / logistics sector saw record-high volumes of completions and demand at national level, 2017 being the best year so far for the segment. A new speculative stock of 500,000 sq m was completed, a 42% annual growth, with the international developers (CTP Invest, WDP, P3, Logicor, Zacaria Group, Globalworth) having a rapid response for the high growth in demand. Take-up volume, including major leases, jumped by 70%, up to 730,000 sq m at national level, with 73% of demand being represented by logistics/warehousing uses.
The local medical clinic Medici's has rented a total area of 840 sq m on the 1st floor of the Timco building in Timisoara, owned by Bega Group, with the perspective to extend the rented space up to 1,000 sq m. The transaction been assisted by the real-estate consultant Activ Property Services.
The clinic is located near the Central business district of Timisoara developed around the 700 Square, at the limit of the historical center. The building benefits from a prominent location within one of the most important junctions in the city, extensively developed retail wise, including retailers such as Carrefour, Penny Market, DM and Kaufland, as well as the presence of the major pharmacies chains: SensiBlu, Catena and HelpNet.
New shopping centre stock registered a modest evolution in 2017, accounting for only 66,700 sq m GLA at national level, with almost 70% below the previous year (2016 – 212,780 sq m GLA).
Only 2 new shopping centres (Shopping City Ramnicu Valcea, Platinia Cluj-Napoca) and 2 extensions (Shopping City Galati, AFI Palace Cotroceni) were delivered in 2017, compared with 4 new openings and 6 extensions in 2016.
Activ Property Services has become the affiliated office of GVA Worldwide in Romania starting with the 1st of January 2018. The partnership marks GVA Worldwide’s strategy to strengthen the network in the wider European markets.