Number of properties sold, up in first semester, but average value of a transaction halved

The number of real estate properties generating income, namely office buildings, industrial and logistics parks, retail spaces, hotels, traded in the first semester, increased by 30% compared to the same period last year, but the average value of a transaction decreased in half, shows an analysis carried out by Cushman & Wakefield Echinox, the exclusive affiliate of Cushman & Wakefield in Romania.

According to the source, the average value of a transaction decreased from 24 million euros to 11 million euros.

In this context, the traded volume decreased by 43%, to the level of 181 million euros, according to data released by the real estate consulting company.

The segment of office buildings and industrial parks, with 5 buildings traded in the analyzed period, were the most active from an investment point of view, followed by retail (4 properties) and hotels (3 properties).

From the point of view of the traded volume, the logistics sector had the largest share, 37%, followed by offices (32%), retail (21%) and the hospitality sector (10%).

The decline of the investment market in Romania is part of the global and regional trend, the source adds.

The real estate sector is dependent on external sources of financing, but according to the data of the National Bank of Romania (BNR), the players in the field mainly use intra-group loans. Thus, the share of medium- and long-term external private debt in total liabilities is 16% for companies in the real estate sector (compared to 5% at the level of the entire sector of companies), being represented in the proportion of 70% by intra-group loans.