Centralized data from JLL show that office transactions accounted for 85% of the total reported in the reference period, while the industrial sector accumulated more than 8%.
"Compared to the same period last year, the number of transactions remained stable, with the average transaction size rising to 27 million euros, mainly due to the signing of several large transactions, which include a Pan-EEC portfolio and other important assets. The largest transaction recorded in the first half of 2020 was the sale of approximately 61.49% of the GTC portfolio. Other notable office transactions were the acquisition by the Dedeman group of the third phase of The Bridge - a building of 21,100 sqm which is part of an 80,000 sq m office park in the Central-West part of Bucharest, the acquisition of Global City Business Park, 50,000 sq m in the Pipera Nord area by Arion Green Investment and the acquisition of 50% of Renault Business Connect in the West of Bucharest by Globalworth The only transaction for the sale of a project with a closed retail component in the first half of the year was the acquisition by Lotus Center, a local group with headquarters in Oradea, of Oradea Plaza, a mixed project", the market study shows.
According to the quoted source, the largest transaction on the industrial market was the purchase by CTP of the Equest logistics park located on the A1 Motorway, at kilometer 13, the most important logistics sub-market in Bucharest. Thus, through this acquisition, CTP consolidated its position as the largest owner of industrial / logistics spaces in Romania and one of the two dominant actors in the Western area, near A1.
Over the past year, Romanian buyers accounted for 28% of the volume of transactions, the share being increasing to 35% in the first half of 2020. The most active players were: Dedeman, One United, Lotus Center or Element Industrial.
The study highlights the fact that the primary yields on the office and retail market remain at 7%, while on the industrial market they stand at 8%. At the same time, the yields on retail and on the industrial market are at the same level as 12 months ago, and the yields of offices have compressed by 25 bps during the year.
At the level of Central and Eastern Europe (CEE), Romania ranked fourth in terms of the volume of real estate transactions, after Poland, the Czech Republic and Hungary, according to JLL CEE Investment Market H1 2020. In total, during the analyzed period, properties worth 6.4 billion euros were traded in CEE, of which over 46% was made by Poland, with 2.9 billion euros. The Czech Republic had a volume of 1.95 billion euros and Hungary 615 million euros. (source: JLL)