Romania Real Estate Report 2016

Publisher Name :
Date: 31-Aug-2016
No. of pages: 58

BMI View: A steady recovery in the Romanian economy, based on strong fundamental macroeconomics in

terms of wages, consumer spending and employment figures, should see demand remain steady across the

commercial real estate sector for 2016. Headwinds from EU economic uncertainty and lower global

demand have seen buyers and tenants favour prime locations in established cities to avoid 'high-risk' assets.

However, dwindling supply lines offer stability in rental rates, and rates have even seen incremental

increases within the industrial sub-sector.

An optimistic outlook on the Romanian economy has seen investor sentiment rise across the commercial

real estate sector over the past two years, despite pessimistic views from financial institutions suggesting

long-term growth may be affected by further shortfalls in the EU. For the 2016 period, we anticipate

nominal GDP growth to appreciate 0.4% y-o-y in EUR terms. Although this is a slide from 6.4% growth,

witnessed over 2015, a slight rise in nominal GDP from EUR159.9bn to EUR160.6bn represents the

resiliency of the Romanian economy to deal with headwinds from structural frailties in the eurozone.

Although, in terms of foreign direct investment (FDI) flows, we believe there will be a possible decline as

investors are likely to sell assets with high risk and pull those form emerging economies, such as Romania,

due to the UK leaving the EU, instigating a period of uncertainty.

Romania Real Estate Report 2016

Table of Contents

BMI Industry View 7
Political 12
Economic 13
Operational Risk 14
Industry Forecast 16
Office Industry Forecast 16
Table: Office Rental Rates 19
Table: Office Yields 20
Retail Industry Forecast 20
Table: Retail Rental Rates 24
Table: Retail Yields 25
Industrial Industry Forecast 26
Table: Industrial Rental Rates 29
Table: Industrial Yields 30
Residential/Non-Residential Building - Outlook and Overview 30
Latest Updates 30
Table: Residential and Non-Residential Building Industry Data (Romania 2015-2025) 31
Structural Trends 31
Major Projects Table - Residential & Non-Residential Buildings 35
Table: Construction And Social Infrastructure Key Projects 35
Macroeconomic Forecast 36
Economic Analysis 36
Industry Risk Reward Ratings 41
Industry Risk Reward Index 41
Table: CEE Real Estate Risk Reward Index 41
Rewards 41
Risks 42
Market Overview 43
Competitive Landscape 45
Property Developers 45
Property Managers 47
Demographic Forecast 49
Table: Population Headline Indicators (Romania 1990-2025) 50
Table: Key Population Ratios (Romania 1990-2025) 50
Table: Urban/Rural Population & Life Expectancy (Romania 1990-2025) 51
Table: Population By Age Group (Romania 1990-2025) 51
Table: Population By Age Group % (Romania 1990-2025) 52
Methodology 54
Industry Forecast Methodology 54
Sources 55
Risk/Reward Index Methodology 56
Table: Real Estate Risk/Reward Index Indicators 57
Table: Weighting Of Indicators 58

List of Tables

Table: Office Rental Rates
Table: Office Yields
Table: Retail Rental Rates
Table: Retail Yields
Table: Industrial Rental Rates
Table: Industrial Yields
Table: Residential and Non-Residential Building Industry Data (Romania 2015-2025)
Table: Construction And Social Infrastructure Key Projects
Table: CEE Real Estate Risk Reward Index
Table: Population Headline Indicators (Romania 1990-2025)
Table: Key Population Ratios (Romania 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Romania 1990-2025)
Table: Population By Age Group (Romania 1990-2025)
Table: Population By Age Group % (Romania 1990-2025)
Table: Real Estate Risk/Reward Index Indicators
Table: Weighting Of Indicators
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