The real estate market is booming! The average value of transactions almost doubled in 2018

The end of the first semester has brought into light great achievements from regional cities in all real estate segments. Bucharest has also performed well and, according to the real estate consultancy company Colliers International Romania, the prospects for the remainder of the year remain strong, according to Business-Review.eu.

In the first semester of 2018, the Bucharest market saw deliveries of 33,000 sqm in new office spaces, and over 150,000 sqm are expected for the remainder of the year. Regional cities were more active, with Timisoara and Cluj-Napoca adding around 72,000 sqm of modern office spaces.

As expected, gross take-up of office spaces in Bucharest decreased to 150,000 sqm. Still, the net take-up adds up to over 84,000 sqm, slightly higher than in 2017 and a new post-crisis high for the first semester. Tenants sought central hotspots in Bucharest, with Center-West and central areas dominating in terms of demand (28 percent and 26 percent of demand respectively).

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