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New retail project deliveries are likely to cross the 200,000-sqm threshold this year as well, close to the level of 2023, when developers built 213,000 square meters of new retail spaces, a seven-year high, as revealed by real estate consultancy Cushman & Wakefield Echinox data.

Bucharest office space occupancy costs have increased by around 10% in the past two years amid the rising building operational costs and the indexing of rents against inflation, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.

Around 77,000 square meters of offices were traded in Bucharest in the second quarter of this year, with net demand posting a strong recovery, with a 62% share of traded volumes, the biggest quarterly weight since Q1/2022, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.

Deliveries of new retail spaces in Romania in the first half of 2024 totaled 87,400 square meters, significantly up from 30,000 square meters completed in the similar period of 2023, an evolution fueled particularly by the development activity of the second quarter, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.

Bucharest will during the 2024-2026 period register the strongest increase in new hotel spaces among CEE capital cities, with an advance of around 5.8%, meaning another 2,400 rooms will be delivered, a rate that tops the CEE-6 average growth of 3.2%, reveals an analysis by real estate consultancy Cushman & Wakefield.

Companies in the first half of this year leased industrial and logistic spaces with a total area of 410,500 square meters, down 25% from the year-earlier period. In terms of new demand, not including renegotiation contracts, this cumulated 52% of the volume of contracted spaces, namely 213,000 square meters, double the area delivered in the analyzed period, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.

Real estate consulting company Cushman & Wakefield Echinox has appointed Cristina Lupascu, a specialist with more than 20 years of experience in media and real estate, to the position of Head of Marketing.

Real estate consultancy Cushman & Wakefield Echinox ended 2023 with EUR12 million revenues, up 15% from 2022, with growth supported both by business lines providing brokerage services, and professional services.

Companies in the first three months of 2023 leased around 200,000 square meters of logistic and industrial spaces, with demand mainly coming from production firms, FMCG and logistic operators, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.

Real estate developers in 2023 completed office space projects totaling 83,000 square meters in Romania’s main regional cities, Cluj-Napoca, Timisoara, Iasi and Brasov and the modern stock crossed the threshold of 1 million square meters in these cities, accounting for around 30% of Bucharest stock, in line with data provided by Cushman & Wakefield Echinox.

Real estate consulting company Cushman & Wakefield Echinox has been appointed to manage the Expo Business Park office project, one of the most representative projects in the Expozitiei area of Bucharest, starting from January 2024.

While the average hotel occupancy level across the CEE-6 capitals – including Bucharest, Bratislava, Budapest, Prague, Sofia, and Warsaw – in 2023 lagged 2019 by 9%, the ADR surpassed it by 23%, resulting in a 12% RevPAR growth, according to data from the real estate consulting company Cushman & Wakefield.

Real estate consulting company Cushman & Wakefield Echinox strengthens its office agency by recruiting Anamaria Creţu, a specialist with 18 years of multinational corporate experience.

The Bucharest hotel market remains attractive for hotel operators to expand their networks in Central and Eastern Europe (CEE). Bucharest is the 5th most attractive market out of 20 cities in CEE in terms of the interest of the main operators to invest in new hotel facilities in the next period, real estate consultant Cushman & Wakefield says in a report.

Central and Eastern Europe, including Romania, is benefiting from the relocation of production activities from more far away countries, such as Asian ones, closer to consumers, particularly owing to the significantly lower costs compared to Western Europe, reads a report drawn up by real estate consultancy Cushman & Wakefield.

Approximately 500,000 square meters of office spaces are unoccupied in capital city Bucharest, reflecting a vacancy rate of 15.2%, and the highest availability is reported in the Pipera North, Center-West and Floreasca – Barbu Vacarescu submarkets, as per data from real estate consulting firm Cushman & Wakefield Echinox.

The investors already active on the local real estate market are interested to consolidate their positions, but one can notice the absence of investors from a specific part of the world, says Mihnea Serbanescu, general manager of real estate consultant Cushman & Wakefield Echinox.

Major retail networks in 2021 registered overall turnover almost 20% higher than in 2019, a pre-pandemic year, 60% above the consumption growth rate of the past two years (12.5%) and above the overall inflation of 2020-2021, of 7.8%, reveals Romania Retail Snapshot survey carried out by Cushman & Wakefield Echinox.

ENEVO Group moves its office within the AFI Lakeview owned by AFI EUROPE and located in the Floreasca-Barbu Vacarescu area in Bucharest, one of the main office hub in the country, in a transaction brokered by the real estate consulting company Cushman & Wakefield Echinox.   ENEVO Group of companies covers a diverse range of […]

Cushman & Wakefield Echinox  consolidates the Asset Services department by appointing Roxana Nicolae as Workplace Manager. Roxana Nicolae has 17 years of experience in Integrated Facilities Management for corporate clients, such as Bitdefender, Adobe or Superbet. In her new role, Roxana will coordonate the Integrated Facilities Management services for Cushman & Wakefield Echinox’s corporate accounts and […]