The Commercial Real Estate market in Romania has experienced significant growth and development in recent years. Customer preferences have shifted towards modern and well-equipped office spaces, retail spaces in prime locations, and high-quality industrial and logistics facilities. This trend is driven by the increasing demand for flexible and modern workspaces, the growth of e-commerce, and the expansion of multinational companies in the country. In terms of office spaces, customers are increasingly looking for modern and flexible work environments that can accommodate their evolving needs. This includes features such as open floor plans, collaborative spaces, and advanced technology infrastructure. The demand for such spaces is driven by the growing number of startups and technology companies in Romania, as well as the need for companies to attract and retain top talent in a competitive labor market. The retail sector in Romania has also witnessed significant growth, with a focus on prime locations and modern shopping centers. Customers are increasingly looking for convenient and attractive retail spaces that offer a wide range of products and services. This trend is driven by the growth of consumer spending and the increasing popularity of shopping malls as social and entertainment destinations. The industrial and logistics sector in Romania has experienced a boom in recent years, driven by the growth of e-commerce and the expansion of multinational companies. Customers are looking for high-quality facilities that can support their logistics operations and meet the increasing demand for online shopping. This includes features such as large warehouse spaces, advanced technology systems, and efficient transportation infrastructure. In addition to customer preferences, there are also local special circumstances that contribute to the development of the Commercial Real Estate market in Romania. The country's strategic location in Eastern Europe, its membership in the European Union, and its favorable business environment make it an attractive destination for foreign investors. This has led to an influx of capital and increased competition in the market. Furthermore, Romania's strong economic growth, stable political environment, and skilled workforce have also contributed to the development of the Commercial Real Estate market. The country's GDP growth, low unemployment rate, and favorable investment climate have attracted both domestic and international companies, driving the demand for commercial real estate. Underlying macroeconomic factors, such as low interest rates and favorable financing conditions, have also played a role in the development of the Commercial Real Estate market in Romania. These factors have made it easier for investors to finance their projects and have contributed to the overall growth and stability of the market. In conclusion, the Commercial Real Estate market in Romania has experienced significant growth and development in recent years. Customer preferences for modern and well-equipped office spaces, prime retail locations, and high-quality industrial and logistics facilities have driven this trend. Local special circumstances, such as Romania's strategic location and favorable business environment, as well as underlying macroeconomic factors, have also contributed to the market's development.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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