While still struggling with record inflation, standing at 9.2% in September, the second highest in the EU, Romania is set to achieve one of the strongest economic growth rates in the EU for both 2023 and 2024, projected at 2.3% and 3%, respectively. The real estate market’s performance in the first nine months of this year suggests that challenges persist. The investment volume remains at a historic low and is likely to persist through the remaining quarter, but there is optimism due to a robust pipeline of transactions worth over 700 million EUR set to close in the first half of 2024. The office market witnessed an increased activity in Q3, surpassing 2019 levels in total take-up, yet net take-up remains below pre-pandemic levels. While the industrial market maintains good health, it experienced a slowdown compared to the first nine months of 2022. Residential prices have seen marginal increases, but sales continue to decline.
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