Romania is preparing to close probably the most difficult year for the local economy after the 2009-2010 recession, but results surpassed the pessimistic expectations seen during the spring period. 2020 was one of the peaks of the current economic cycle in terms of investments in commercial real estate assets, according to Colliers International. The industrial and logistics sector had another very good year, and in the office sector we can already see some positive signals, despite a decrease in rental activity that is forecasted to be in the area of 40%. Looking ahead, 2021 is expected to be a year of recovery, but questions remain with regards to the of speed and way it will happen.
„The year that is just ending has not been as bad as it looked like back in spring, though we are somewhat apart from the forecasts made at the beginning of the year. It was a very good year for the investment area, in line with initial expectations. And, although the market has a certain inertia - so probably 2021 could be a little weaker in terms of investment - 2020 confirmed that Romania has the potential to punch above its current weight at the regional level”, says Laurențiu Lazăr, Managing Partner at Colliers International.
Click here to read the full story.
