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Romania: one of the leaders in real estate transactions in Central and Eastern Europe

Written by: Bridgewest

Romania_one_of_the_leaders_in_real_estate_transactions_in_Central_and_Eastern_Europe.jpgThe total value of real estate transactions in Central and Eastern Europe decreased by 13% last year to 9.8 billion euros. However, investors in Romania did not experience any fall in business activities since Romania remained one of the countries that managed to record impressive investments in the real estate field, being the fourth most popular destination for real estate investments after Poland, Russia and the Czech Republic.

A growing investment field

 
Recent data show that Romania managed to obtain a total volume of real estate transactions of up to 1,124 billion euros. This means that these types of investments recorded a growth of 220% compared to 2013, when the amount of investments in this field only reached 361 billion euros. According to the existing data, Romania managed to surpass Slovakia.
 
Romania recorded the most impressive growth in real estate transactions in Central and Eastern Europe (excluding Bulgaria). The analysed region included countries like Hungary, Ukraine, Serbia, Slovakia, the Baltic countries and Croatia. In these countries, the most important investments were in the office building sector, followed by industrial and hotel buildings. 
 

Profitable real estate transactions in Romania

 
Retail projects in Romania represented almost 40% of the total volume of transactions, followed by office buildings (29%) and logistic and industrial spaces (12%). Almost 8% of the total real estate projects transacted last year were distressed sales.
 
Bucharest remains one of the most attractive cities for real estate investments in Romania. Real estate consulting firms in Romania and businesses operating in the real estate sector benefited from the record level of transactions.
 
Our accountants in Bucharest can help you with the necessary documentation if you are looking to purchase real estate in Romania. We can help you know more about the general and particular taxes applicable for a real estate transaction and we can help you with various financial consulting services. Feel free to contact our accountants in Romania for further questions.