Romania 1Q Real Estate Deals Dn 68% To EUR119M

Real estate transactions in Romania dropped 68% to EUR119 million in the first quarter, mirroring a downward trend of the European commercial properties market, realtor Cushman & Wakefield said in a report Monday.

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It said the European commercial properties fell 37% to EUR38.7 billion in the mentioned interval.

According to Cushman & Wakefield’s office in Romania, 56% of the real estate deals in the first quarter targeted office buildings. The retail segment accounted for 38% of the property transactions, while hotel buildings attracted 7% of the overall investments in the mentioned interval.

The industrial sector, however, posted very few transactions, Cushman & Wakefield Romania said in a statement.

Company officials said they expect overall real estate transactions to reach between EUR1.8 billion and EUR2 billion by the end of the year.

Transactions with commercial properties on the Romanian market stood at EUR1.88 billion in 2007.

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