At the start of the year, in January, we published our thoughts and opinions on some of the major trends in the Romanian economy and its real estate sectors. Before publishing the 2020 version of this report in about a month, December may be a good time to take a look 2019 through our earlier predictions, to see what we got right and what we got wrong.
Macroeconomic context: With GDP growth coming in at 4% in the first three quarters of 2019, led mostly by household spending, we were spot on with this assessment, which was, at the time, a bit more optimistic than that of professional forecasters – around 3%.
Investment market: Our moderately optimistic expectations at the beginning of 2019 proved to be true: the beginning of the year showed the premises for some very large transactions, but a number of these were delayed until 2020. The total investment volume for 2019 is expected to be around EUR 0.6-0.7bn. 2020 will start on a terrific footing, with transactions of over EUR 600mn in an advanced stage of negotiation.
To read the remaining 8 points, please download the report below.