The capital of new EU member Romania has fabulous property market indicators. Eston International checked on whether Bucharest can really be a promise land for investors wishing to enter the market.
With Eston International’s professional support a new tenant has selected the latest Building ‘D’ in Infopark: T-Online will occupy 5,500 sqm in the building to be ready in summer 2007. The largest office market deal of Q1 2007 was hovelled under an exclusive tenant representation assignment, benefits of which service getting more recognised by tenants.
Investors’ soaring interest for Hungarian properties remained unbroken in 2006, local real estate funds even got a new – though temporary – momentum due to the implementation of the interest rate tax. The volume of transactions completed was around the € 1bn level, seen also in previous year, the strong demand resulted in further – however slowing – decrease of yields.
In 2006 on the market of Budapest retail properties the most dynamic development activity was seen in the core of the city as well as on its outskirts; while there was no significant movement on the market of shopping centers, which are in fact responsible for bulk of retail sales.
Thanks to a strong 4Q 2006 industrial and logistics property market of Budapest and its agglomeration had a slightly more intense year than in 2005. According to our calculations, new deliveries reached about 140,000 sqm, not taking into account companies’ private developments (ALDI/60,000 sqm, DHL/13,000 sqm, and HOPI/10,000 sqm).
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