Romania's commercial real estate investment volume totaled EUR 588.5 million in 2020, half of the value achieved in the record year 2019, but similar to that of 2015 - a year when the market resumed growth, according to the CBRE Romania Real Estate Market Outlook.

However, Romania remains on the radar of investors in 2021, and the combination of limited supply and better than envisaged demand may trigger surprising movements in pricing, CBRE says.

In 2020, 68% of the total real estate investment volume was recorded in the first six months. However, the year's largest transaction took place in the second half and marked the entry of a new Chinese investor in Romania as Fosun acquired the Floreasca Park office building in Bucharest for EUR 101.5 million.

The biggest investment deal negotiated in 2019 was also finalized in 2020 when AFI Europe completed the transaction process with NEPI Rockcastle for three office buildings in Bucharest (Floreasca Business Park, The Lakeview, and Aviatorilor 8) and one in Timisoara (City Business Park) for an estimated total value of EUR 308 million.

The year ended favorably for the office investment market as S IMMO, advised by CBRE, agreed on the transactional terms for a forward purchase of Skanska's Campus 6.2 and 6.3 office buildings for approximately EUR 97 million.

According to CBRE, forecasts for 2021 remain cautiously optimistic as several transactions were signed in 2020 and will close in 2021, while a few other deals are in various negotiation stages. In this context, the Romanian real estate investment market will probably continue to benefit from foreign investors' demand.

irina.marica@romania-insider.com

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