TCN Worldwide Real Estate Services

The local real estate market is expected to register almost 2 million sq m of new commercial properties (retail, office, industrial) delivered in 2019, representing a 37% year/year growth, according to the annual market report launched by Activ Property Services.

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The industrial sector recorded its best ever evolution in 2018, with over 900,000 sq m GLA delivered at national level, marking a 63% annual jump. Bucharest was the most effervescent market with 360,000 sq m completed, followed by Timisoara (103,000 sq m), Pitesti (68,000 sq m) and Cluj-Napoca (61,400 sq m).

The market value of these new industrial buildings is estimated at over 471 million Euro, out of which 43% is represented by the completions in Bucharest area. New A-class buildings have average rents of 3.5-4.0 Euro/sq m/month and average yields of 8.5-9.0%. 

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