CBRE Research

ROMANIA

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MARKETVIEW

Romania Investment, Q3 2019

Close to 600 mln. EUR were

transacted in Romania

INVESTMENT FACT SHEET, Q3 2019

21%

36%

67pps

12bps

PRIME YIELDS, Q3 2019

7.00%
6.50%
7.75%

Source: CBRE Research, Q3 2019

Prime Yields constant compression in the last 7 years for all segments

Figure 1: Prime Yield Evolution, 2013 - Q3 2019

Source: CBRE Research, Q3 2019

Q3 2019 CBRE Research © 2019 CBRE Real Estate Consultancy | 2

MARKETVIEW ROMANIA INVESTMENT

Romania is the most competitive market in CEE

Figure 2: CEE Main Indicators, Q3 2019

OFFICE RETAIL INDUSTRIAL

CITY
Yield Rent Yield Rent Yield Rent
(EUR/m2/month) (EUR/m2/month) (EUR/m2/month)

BUCHAREST 7.00% 18.50 6.50% 70 7.75% 4.00

BRATISLAVA 5.75% 17.00 5.75% 67 6.35% 3.90

BUDAPEST 5.25% 26.00 5.50% 97 7.00% 5.50

WARSAW 4.50% 24.00 5.00% 100 6.00% 4.00

PRAGUE 4.25% 22.75 4.75% 145 5.50% 4.90

Source: CBRE Research, Q3 2019

Figure 3: Investment Volume by Properties Main Use, 2008-2019YTD

Source: CBRE Research, Q3 2019

Q3 2019 CBRE Research © 2019 CBRE Real Estate Consultancy | 3

MARKETVIEW ROMANIA INVESTMENT

Increase in liquidity driven by a diverse pool of

investors mainly Romanian & South Africans
Figure 4: Investment volume by purchaser nationality, 2019 YTD

Source: CBRE Research, Q3 2019

The average investment deal was 28 mln. EUR in 2019 YTD

• 57% of the investment volume was represented by Office segment
• Office & Retail sectors dominated the transactional activity in the last 7 years

Office: 57% Retail: 27% Industrial: 9% Hotel: 5% Other: 2%

Figure 5: Investment Largest Transactions, 2019 YTD

VOLUME EUR
CITY PROPERTY NAME BUYER SELLER
ESTIMATED

Cluj-Napoca The Office 129 mln. Dedeman NEPI Rockastle

Bucharest Retail parks portfolio 113 mln. MAS Real Estate Prime Kapital

Bucharest America House 77 mln. Morgan Stanley AEW

Bucharest Oregon Park III 60 mln. Lion’s Head Investment Portland Trust

Targu Mures Promenada Mall 43 mln. Indotek AEW

Bucharest A1 Bucharest Park 40 mln. CTP Invest Vabeld

Cluj – Napoca Liberty Technology Park 35 mln. White Star Fribourg Development

Bucharest Piraeus building 20 mln. Local JC Flowers & Co

Source: CBRE Research, Q3 2019

Q3 2019 CBRE Research © 2019 CBRE Real Estate Consultancy | 4

 MARKETVIEW ROMANIA INVESTMENT

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