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Real estate market review in 2020: A peak for investments - almost 10% of the region's volume, fluctuations in the other sectors. 2021, the year of recovery

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.

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Laurentiu Lazar

Managing Partner & Head of Investment | Romania

Bucharest

Laurentiu, Managing Partner at Colliers International Romania, has over 14 years of experience in real estate services including valuation, advisory and investment. He joined Colliers in 2007 as a real estate valuer and in 2009 he was promoted to Head of Valuation and Advisory Services, with the responsibility to expand the valuation team in Romania. In 2015, he became Head of Investment, developing the Capital Markets services and later appointed as Senior Partner within Colliers International Romania in 2016, managing over 20 experts. As of march 2018, Laurentiu was promoted Managing Partner.

Before joining Colliers, Laurentiu worked for 10 years at Vodafone Romania/Connex, holding different management positions within Marketing and Customer Operations Divisions. Between 2014 and 2017 he has been Vice-President of ANEVAR (Romanian Association of Valuers).

In parallel, I was involved raising funds for various projects, such as Teach for Romania, The Romanian Foundation for Neurology and Epilepsy and “Prietenia” Association.

Quote: „When given the choice between being right or being kind, choose kind.” – Wayne W. Dyer

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Silviu Pop

Head of Research | Romania

Bucharest

Before joining Colliers mid-2017 as Head of Research for Romania, Silviu Pop worked with ING Bank for close to three years as an economist, covering macroeconomic/financial market themes for Romania, Bulgaria, Serbia and Croatia. His previous professional experience includes working almost 7 years as a financial journalist at various media outlets in Romania, including the sole business-oriented TV station in Romania, where he hosted a daily show for a period of time; during this interval,  he won a number of scholarships, including a stint with Reuters. He holds a BSc in economics at the Bucharest University of Economic Studies.

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