Approximately EUR 133 million in real estate transactions in Q1

The first quarter of 2023 brought real estate transactions with a total value of approximately EUR 133 million, the most important sale in the office market being that of One Herastrau Office, informs JLL Romania.

According to the quoted source, only transactions of at least EUR 5 million were taken into account, and the seven transactions that totalled around EUR 133 million had an average value of EUR 19 million.

The industrial space sector attracted 45% of the total investment volume in Q1, while the office segment accounted for 35%, hotels 14% and retail space about 6%.

Bucharest attracted almost 45% of the total investment volume in Q1, followed by Timisoara with 23% and Constanta with around 10%.

"For 2023, we expect a total investment volume between 700 and 900 million euro, slightly below the average of the last years. The most attractive segments for investments remain the office and industrial ones," reads a company press release sent to AGERPRES on Wednesday.

Following the regional trend, prime yields increased in Q1 by 0.25 percentage points for office (reaching 7.25%) and retail (7.5% for shopping centres and 8.00% for retail parks) and stagnated for industrial spaces (7.5%).